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WEBVTT 1 00:00:07.525 --> 00:00:08.945 I'm Maria Ate. 2 00:00:09.045 --> 00:00:10.305 I'm the Associate Director 3 00:00:10.305 --> 00:00:13.625 of the African Studies Program at Indiana University 4 00:00:13.625 --> 00:00:17.985 Bloomington, and I am here to welcome all of you, 5 00:00:18.565 --> 00:00:20.905 uh, to this doing business in 6 00:00:21.085 --> 00:00:23.265 and with Africa Conference today. 7 00:00:23.925 --> 00:00:28.065 I'm very delighted that, um, my colleagues at, um, 8 00:00:28.565 --> 00:00:31.025 the Center for International Business Education 9 00:00:31.045 --> 00:00:34.265 and Research, um, organize this event. 10 00:00:34.845 --> 00:00:37.625 Um, I think we'll have, um, much interesting, 11 00:00:37.625 --> 00:00:39.225 many interesting presentations 12 00:00:39.405 --> 00:00:41.865 and hopefully discussion lively discussion. 13 00:00:42.405 --> 00:00:47.025 Um, it's a very appropriate, um, and timely topic, 14 00:00:47.605 --> 00:00:51.865 and Africa has a long history of trade and entrepreneurship, 15 00:00:52.485 --> 00:00:56.825 and that's often, um, overshadowed by the negative events, 16 00:00:57.005 --> 00:00:58.865 uh, that come from the continent 17 00:00:58.885 --> 00:01:00.345 or the, the, the negative news 18 00:01:00.455 --> 00:01:02.265 that we hear about the continent. 19 00:01:02.925 --> 00:01:04.985 Um, so thank you. 20 00:01:05.205 --> 00:01:09.825 Uh, welcome everyone, the audience, um, members of, um, 21 00:01:10.285 --> 00:01:12.745 the, uh, the panels, the invited speakers, 22 00:01:12.885 --> 00:01:13.945 and the moderators. 23 00:01:14.725 --> 00:01:17.905 Um, I also want to thank the committee members 24 00:01:18.325 --> 00:01:20.625 who were involved in planning this event. 25 00:01:21.245 --> 00:01:22.745 Uh, Peter Kirkwood 26 00:01:22.925 --> 00:01:24.505 and Enzo Kin 27 00:01:24.685 --> 00:01:27.465 of the International Center here in Indianapolis. 28 00:01:28.125 --> 00:01:30.985 And Tom Miller of the PNC Bank. 29 00:01:32.125 --> 00:01:35.465 And my very special thanks to Christine Everett 30 00:01:35.645 --> 00:01:39.905 and, um, Vicki Dixon, um, of, uh, the, um, 31 00:01:40.125 --> 00:01:42.185 the cyber, the, the Center 32 00:01:42.205 --> 00:01:44.465 for International Business Education and Research. 33 00:01:44.855 --> 00:01:47.385 This is in the Cali School of Business. 34 00:01:48.285 --> 00:01:51.905 Um, unfortunately, our keynote speaker, the originally 35 00:01:52.585 --> 00:01:56.105 original keynote speaker, uh, leader Fitz of the US Trade 36 00:01:56.105 --> 00:01:59.465 and Development Agency was unable to come. 37 00:01:59.805 --> 00:02:04.665 Um, she had a last minute business in, uh, Ghana, so she had 38 00:02:04.665 --> 00:02:05.985 to leave on very short notice. 39 00:02:06.885 --> 00:02:10.985 Um, but it, um, I don't think we are any the worth worse 40 00:02:11.005 --> 00:02:15.305 of it, um, because, um, David Reposo will replace her 41 00:02:15.325 --> 00:02:17.985 and I will introduce him, uh, in a minute. 42 00:02:19.145 --> 00:02:22.545 I just want to mention that, um, Monica Brown was 43 00:02:22.545 --> 00:02:24.745 to be on the, uh, first panel. 44 00:02:25.025 --> 00:02:29.905 I initially, um, she also was unable to come, um, 45 00:02:30.085 --> 00:02:33.345 but, uh, she's replaced by Patricia Sack. 46 00:02:34.045 --> 00:02:37.385 And, um, then in the afternoon, uh, 47 00:02:37.385 --> 00:02:39.665 George Thrower was unable to attend, 48 00:02:39.805 --> 00:02:41.985 and unfortunately we were not, um, able 49 00:02:42.045 --> 00:02:43.865 to find a replacement for him. 50 00:02:44.725 --> 00:02:47.225 Um, the event will be recorded, 51 00:02:47.885 --> 00:02:50.465 but if you need to go out, uh, um, 52 00:02:50.765 --> 00:02:53.745 and, um, for something, um, go ahead. 53 00:02:53.965 --> 00:02:55.145 Uh, it's not a problem. 54 00:02:57.205 --> 00:02:59.145 Um, so I'm very delighted 55 00:02:59.275 --> 00:03:01.645 that David Raposo could join us here. 56 00:03:02.225 --> 00:03:03.565 Um, he's the finance 57 00:03:03.825 --> 00:03:06.365 and Implementation manager, um, 58 00:03:06.825 --> 00:03:09.485 for Sub-Saharan Africa at the US Trade 59 00:03:09.505 --> 00:03:10.965 and Development Agency. 60 00:03:11.705 --> 00:03:13.725 Um, so Lida Fitz, uh, knew 61 00:03:13.725 --> 00:03:15.645 what she was doing when she recommended him 62 00:03:15.665 --> 00:03:17.405 as her replacement. 63 00:03:18.185 --> 00:03:20.605 Um, and in his position, uh, 64 00:03:20.625 --> 00:03:25.325 he helps energy ventures in Sub-Saharan Africa, um, achieve, 65 00:03:25.465 --> 00:03:28.565 uh, financial and, um, commercial operation. 66 00:03:29.465 --> 00:03:33.925 Um, before joining the agency, he let donor funded energy, 67 00:03:34.345 --> 00:03:38.365 um, access programs in Africa, in South Asia for five years. 68 00:03:39.265 --> 00:03:43.605 And before then, he was a strategy consultant, uh, advising 69 00:03:44.125 --> 00:03:46.605 companies and governments on clean energy markets 70 00:03:46.945 --> 00:03:47.965 and technologies. 71 00:03:48.985 --> 00:03:53.165 Um, his professional experience also includes establishing a 72 00:03:53.165 --> 00:03:56.085 renewable energy consulting business in India 73 00:03:56.785 --> 00:03:58.805 and helping, uh, many wind 74 00:03:58.865 --> 00:04:03.245 and solar project developers, uh, define pre-construction, 75 00:04:03.425 --> 00:04:06.325 energy generation potential of their projects. 76 00:04:06.825 --> 00:04:09.005 He has an MS degree from the University 77 00:04:09.005 --> 00:04:10.885 of Maryland in College Park. 78 00:04:11.705 --> 00:04:16.045 Um, so, um, let's welcome our keynote speaker, Mr. 79 00:04:16.425 --> 00:04:19.645 Reposo, and, um, welcome Mr. Reposo. 80 00:04:27.575 --> 00:04:29.485 Great. Well, uh, well, thanks again for the, uh, 81 00:04:29.485 --> 00:04:32.525 for the introduction and thanks all to the cyber team. 82 00:04:32.825 --> 00:04:34.685 Um, it's a, it's a privilege to be here. 83 00:04:34.825 --> 00:04:37.245 And once again, uh, LDA Fitz, my, 84 00:04:37.265 --> 00:04:38.805 my colleague sends her regrets. 85 00:04:39.145 --> 00:04:41.525 Um, she's presently about, about halfway to Nigeria 86 00:04:41.615 --> 00:04:44.725 where she will be, uh, attending a conference with the, uh, 87 00:04:44.725 --> 00:04:47.685 Africa Finance Corporation for the next several days. 88 00:04:48.705 --> 00:04:53.045 Um, my my objective with, with this talk, um, is 89 00:04:53.105 --> 00:04:56.245 to hopefully set the stage for the conversation 90 00:04:56.265 --> 00:04:58.525 to come over the course of the day, um, 91 00:04:58.585 --> 00:05:00.925 and discuss the, the challenges and, 92 00:05:00.925 --> 00:05:03.285 and opportunities associated with, uh, 93 00:05:03.285 --> 00:05:05.125 doing business in and, and with Africa. 94 00:05:05.625 --> 00:05:08.285 Um, I would like to describe for you a little bit about 95 00:05:08.435 --> 00:05:13.405 what the US government, uh, is doing in, in this domain, uh, 96 00:05:13.465 --> 00:05:16.125 to try to, um, improve the situation. 97 00:05:16.705 --> 00:05:18.365 And then I would like to describe for you what, 98 00:05:18.365 --> 00:05:21.925 what my very small agency is doing in our, um, in our, 99 00:05:21.945 --> 00:05:23.085 uh, circumscribed role. 100 00:05:23.425 --> 00:05:27.245 Uh, I would like to describe for you what the, uh, US Trade 101 00:05:27.285 --> 00:05:29.765 and Development Agency is doing to help, uh, 102 00:05:29.865 --> 00:05:32.885 US businesses access, um, opportunities in, 103 00:05:32.905 --> 00:05:33.965 in Sub-Saharan Africa. 104 00:05:37.985 --> 00:05:40.645 So I have a feeling we're going to be having a number 105 00:05:40.645 --> 00:05:43.645 of different versions of, of this conversation today, um, 106 00:05:43.645 --> 00:05:45.245 discussing the, the challenges and, 107 00:05:45.485 --> 00:05:47.965 and the opportunities, um, associated with, 108 00:05:47.965 --> 00:05:49.285 with doing business in Africa. 109 00:05:50.825 --> 00:05:55.365 Um, uh, Vicki et al have asked me to focus in on power 110 00:05:56.385 --> 00:05:57.445 and for very good reason. 111 00:05:57.585 --> 00:06:01.085 Um, uh, U-S-T-D-A, the, the broader US government, um, 112 00:06:01.105 --> 00:06:02.125 and the business community. 113 00:06:02.125 --> 00:06:05.485 We, we all perceive this to be a real constraint 114 00:06:05.505 --> 00:06:06.645 to economic growth. 115 00:06:07.105 --> 00:06:10.885 And, and there are, uh, many ways in in which, um, uh, 116 00:06:10.985 --> 00:06:14.325 access to electricity, um, and lack of IT constraints. 117 00:06:14.705 --> 00:06:18.605 Um, economic growth, 600 million Africans, 118 00:06:18.865 --> 00:06:22.125 as is well known, uh, living without access to electricity. 119 00:06:22.625 --> 00:06:27.165 Um, those with access to electricity often don't have, uh, 120 00:06:27.465 --> 00:06:29.125 uh, reliable access. 121 00:06:29.625 --> 00:06:32.565 If that feeder line is leading to your house, often 122 00:06:33.145 --> 00:06:37.045 it goes dark for, um, however many hours or days at a time. 123 00:06:38.585 --> 00:06:42.165 And this is not only an inconvenience, 124 00:06:42.165 --> 00:06:44.805 but a, a serious constraint to economic growth. 125 00:06:45.905 --> 00:06:48.045 On the other side of that coin, uh, each 126 00:06:48.505 --> 00:06:52.485 of those 600 million that lack access represents a kind 127 00:06:52.645 --> 00:06:53.645 of a business opportunity. 128 00:06:54.625 --> 00:06:57.645 Um, if you are able to access that opportunity, 129 00:06:57.945 --> 00:06:59.605 the risk is tremendous. 130 00:06:59.905 --> 00:07:02.765 Um, but the rewards, uh, 131 00:07:02.785 --> 00:07:04.925 in turn are also quite substantial. 132 00:07:05.145 --> 00:07:09.445 Um, if you are able to be successful, uh, we feel, uh, quite 133 00:07:10.005 --> 00:07:13.565 strongly that US businesses are in a unique position 134 00:07:13.985 --> 00:07:17.565 to help, uh, unravel some of these challenges, um, 135 00:07:18.065 --> 00:07:21.085 and, uh, do so in a way that's profitable. 136 00:07:21.385 --> 00:07:25.925 Um, And 137 00:07:26.355 --> 00:07:30.165 that position is, is widely held across the US government, 138 00:07:30.175 --> 00:07:34.165 which is, uh, foremost among the reasons why in 2013, uh, 139 00:07:34.165 --> 00:07:35.885 the previous administration launched 140 00:07:36.065 --> 00:07:37.285 the Power Africa program. 141 00:07:38.705 --> 00:07:40.165 Uh, if you are not familiar with, 142 00:07:40.165 --> 00:07:43.005 with the Power Africa program, uh, a brief overview and, 143 00:07:43.005 --> 00:07:44.845 and I'll be happy to address any questions 144 00:07:44.845 --> 00:07:45.885 that you might have about it. 145 00:07:46.505 --> 00:07:50.645 Um, this is an inter-agency effort, um, that is, uh, 146 00:07:51.625 --> 00:07:53.365 US government sponsored, um, 147 00:07:53.505 --> 00:07:57.165 but convenes a number of other, uh, bilateral donors, 148 00:07:57.565 --> 00:07:59.965 a number of other multilateral development banks. 149 00:08:00.585 --> 00:08:01.765 Uh, and, uh, 150 00:08:01.765 --> 00:08:05.405 we are all motivated towards the shared objectives of, um, 151 00:08:05.405 --> 00:08:10.085 helping, uh, 30, uh, excuse me, helping 60 million, 152 00:08:10.225 --> 00:08:14.965 uh, Africans, uh, access, um, energy, um, building out, uh, 153 00:08:15.185 --> 00:08:18.845 the capacity of Africa to generate energy by, uh, 154 00:08:18.845 --> 00:08:21.085 30,000 megawatts all by 2030. 155 00:08:22.515 --> 00:08:24.045 This is quite an ambitious undertaking. 156 00:08:24.425 --> 00:08:28.125 Um, and although government is playing a leadership role, 157 00:08:28.545 --> 00:08:31.205 uh, the private sector is really out front, uh, 158 00:08:31.305 --> 00:08:34.245 the objective of Power Africa is to, uh, 159 00:08:34.315 --> 00:08:36.245 provide catalytic funding 160 00:08:36.385 --> 00:08:38.565 to provide catalytic capacity building 161 00:08:38.875 --> 00:08:40.605 that will crowd in private sector money 162 00:08:40.625 --> 00:08:43.125 and private sector capacity in order 163 00:08:43.125 --> 00:08:44.485 to achieve these objectives. 164 00:08:44.705 --> 00:08:46.765 Uh, this isn't about the US government trying 165 00:08:46.765 --> 00:08:48.005 to prescribe solutions 166 00:08:48.505 --> 00:08:52.725 and pay for them rather, um, to crowd in the private sector 167 00:08:52.825 --> 00:08:54.445 to help, uh, do some of that work. 168 00:08:54.665 --> 00:08:58.165 Um, uh, for the benefit of the private sector in in Africa, 169 00:08:59.785 --> 00:09:02.285 uh, many US government agencies are 170 00:09:02.285 --> 00:09:03.525 supporting this initiative. 171 00:09:04.065 --> 00:09:08.845 Um, the, uh, export, uh, credit, uh, uh, 172 00:09:09.105 --> 00:09:13.005 uh, bank, uh, the, the, uh, US EXIM bank, uh, for example, 173 00:09:13.425 --> 00:09:16.445 uh, can provide very low interest, uh, loans 174 00:09:16.825 --> 00:09:20.285 to organizations that want to import US goods to Africa. 175 00:09:20.945 --> 00:09:23.045 The overseas private investment corporation 176 00:09:23.065 --> 00:09:26.725 or opec, uh, can provide, uh, very low interest, uh, 177 00:09:26.725 --> 00:09:31.325 concessional debt to, um, uh, US investors that want 178 00:09:31.325 --> 00:09:32.445 to do business in Africa. 179 00:09:32.865 --> 00:09:34.125 Um, U-S-A-I-D 180 00:09:34.125 --> 00:09:36.005 and the Millennium Challenge Corporation are, 181 00:09:36.005 --> 00:09:39.685 are building the capacity of African institutions to, um, 182 00:09:40.235 --> 00:09:43.605 incorporate more power, uh, into their power systems 183 00:09:44.185 --> 00:09:48.005 and to, uh, expand access, especially in, in rural areas. 184 00:09:48.825 --> 00:09:53.645 Um, our agency has a, a a a, 185 00:09:54.045 --> 00:09:55.445 a narrow role, but it's, 186 00:09:55.445 --> 00:09:58.485 but it's, I believe, quite important in the landscape of, 187 00:09:58.485 --> 00:10:00.325 of power project promotion, of, 188 00:10:00.385 --> 00:10:02.885 of infrastructure project promotion very broadly. 189 00:10:03.345 --> 00:10:05.525 Um, but in the context of today's discussion of, 190 00:10:05.585 --> 00:10:07.525 of power project promotion. 191 00:10:07.945 --> 00:10:10.525 Um, so I would like to discuss, uh, the role 192 00:10:10.525 --> 00:10:13.405 of U-S-T-D-A in all of this, uh, first at a, 193 00:10:13.405 --> 00:10:15.325 at a global level, uh, 194 00:10:15.385 --> 00:10:17.285 but then let's, let's drill down a bit and, 195 00:10:17.285 --> 00:10:20.645 and discuss, uh, what's going on in Africa, just our, 196 00:10:20.645 --> 00:10:22.245 our Africa portfolio more broadly. 197 00:10:23.665 --> 00:10:27.965 Um, the, the mission of U-S-T-D-A of the US Trade 198 00:10:27.965 --> 00:10:32.045 and Development, uh, agency, uh, is, is simply to promote, 199 00:10:32.185 --> 00:10:35.285 uh, US manufacturing, um, 200 00:10:35.345 --> 00:10:38.805 and we do that by extending, uh, grant capital 201 00:10:39.425 --> 00:10:41.885 to infrastructure ventures in emerging 202 00:10:41.885 --> 00:10:43.245 markets all over the world. 203 00:10:44.145 --> 00:10:48.165 Um, we're a small organization only about, uh, 45, uh, 204 00:10:48.165 --> 00:10:50.885 full-time employees on, uh, two floors 205 00:10:50.885 --> 00:10:53.085 of an office building in suburban Washington, dc. 206 00:10:53.825 --> 00:10:55.365 Uh, but we have, um, 207 00:10:55.995 --> 00:11:00.205 supported over 500 infrastructure projects in Africa alone 208 00:11:00.215 --> 00:11:01.365 since our founding, 209 00:11:04.385 --> 00:11:07.775 our, excuse me. 210 00:11:09.555 --> 00:11:13.415 We, uh, support activities that will help, uh, 211 00:11:13.695 --> 00:11:16.735 shepherd infrastructure projects along from the conception 212 00:11:16.735 --> 00:11:21.335 stage to a stage where they will be able to seek, uh, public 213 00:11:21.355 --> 00:11:23.215 and private sector sources of funding, 214 00:11:23.475 --> 00:11:25.335 so from a conception stage to a place 215 00:11:25.785 --> 00:11:26.815 where they're bankable. 216 00:11:27.195 --> 00:11:30.495 Um, and along that development journey, 217 00:11:30.955 --> 00:11:34.295 we are exposing infrastructure project promoters to, uh, 218 00:11:34.295 --> 00:11:37.295 what we consider to be the virtue of, of US enterprise, 219 00:11:37.675 --> 00:11:40.695 of us, uh, uh, manufacturing, so 220 00:11:40.695 --> 00:11:44.695 that when the project is finally built, the, uh, the, 221 00:11:44.755 --> 00:11:48.135 the fraction of US export content will be very high. 222 00:11:49.875 --> 00:11:54.805 Um, often our grant funded enterprises will include, uh, 223 00:11:55.135 --> 00:11:59.165 scope elements such as, uh, the, um, engineering, uh, 224 00:11:59.165 --> 00:12:01.965 technical analysis required to define the, the, 225 00:12:01.965 --> 00:12:03.365 the very technical parameters 226 00:12:03.585 --> 00:12:05.205 of the infrastructure that's proposed. 227 00:12:05.705 --> 00:12:09.125 Uh, we will help with the creation of environmental analysis 228 00:12:09.125 --> 00:12:10.885 to identify environmental risk 229 00:12:11.105 --> 00:12:13.165 and mitigate it wherever that's necessary. 230 00:12:14.465 --> 00:12:17.325 Uh, we will work with, uh, whatever policy 231 00:12:17.425 --> 00:12:20.925 and regulatory regime in the country context to help ensure 232 00:12:20.925 --> 00:12:22.045 that all of the licensing 233 00:12:22.045 --> 00:12:25.965 and documentation is in place at the end of our, uh, terms 234 00:12:25.985 --> 00:12:27.605 of, of, uh, reference. 235 00:12:28.185 --> 00:12:32.805 So that, uh, once complete that project is, um, tied up 236 00:12:32.805 --> 00:12:35.005 with a bow and ready to seek financing. 237 00:12:39.545 --> 00:12:42.685 Um, we've been at this for a number of decades, uh, 238 00:12:42.685 --> 00:12:44.005 since the early eighties, and, 239 00:12:44.005 --> 00:12:45.605 and we feel that we're quite good at it. 240 00:12:46.105 --> 00:12:49.085 Um, just last year, so, uh, in, 241 00:12:49.145 --> 00:12:53.605 in the FY 16, we identified, uh, 242 00:12:53.695 --> 00:12:57.645 about three, uh, billion dollars in exports 243 00:12:57.645 --> 00:13:02.405 that were attributable in that year to our activities. 244 00:13:03.265 --> 00:13:06.925 Now, we have a staff that is of, uh, about three people 245 00:13:07.105 --> 00:13:09.805 who are devoted to monitoring this kind of thing full time. 246 00:13:10.385 --> 00:13:12.565 Uh, we have accountants that are, uh, 247 00:13:12.565 --> 00:13:15.045 essentially looking over their shoulders, making sure 248 00:13:15.915 --> 00:13:18.645 that the data are, are substantial 249 00:13:18.945 --> 00:13:20.765 and, uh, withstand scrutiny, uh, 250 00:13:20.765 --> 00:13:22.525 and we have additional accountants looking over the 251 00:13:22.525 --> 00:13:23.645 shoulders of those accounts. 252 00:13:23.645 --> 00:13:27.205 So we're quite certain of these numbers that there are, uh, 253 00:13:27.385 --> 00:13:29.205 uh, a, a great deal of exports 254 00:13:29.205 --> 00:13:31.405 that are directly attributable to the work that we do. 255 00:13:32.185 --> 00:13:34.925 We feel just as strongly that there are jobs, uh, 256 00:13:35.105 --> 00:13:37.885 US manufacturing jobs that are attributable 257 00:13:37.945 --> 00:13:40.045 to those exports, about 17, 258 00:13:40.405 --> 00:13:42.965 18,000 in the most recent financial year 259 00:13:44.095 --> 00:13:45.605 since TDA was founded. 260 00:13:46.225 --> 00:13:50.725 Uh, we feel that about $57 billion of, 261 00:13:50.825 --> 00:13:52.645 of attri, uh, excuse me, 262 00:13:52.645 --> 00:13:55.445 of attributable exports have been, uh, realized. 263 00:13:56.665 --> 00:13:59.765 Um, and the, the final number, I, 264 00:13:59.765 --> 00:14:01.645 I think is the most important, uh, uh, 265 00:14:02.085 --> 00:14:04.965 a nice succinct summary of kind of who we are 266 00:14:05.065 --> 00:14:07.085 and the, the type of impact that we have. 267 00:14:08.105 --> 00:14:12.005 Um, when, uh, uh, a a dollar of, 268 00:14:12.005 --> 00:14:16.845 of us taxpayer funding is, uh, is appropriated to U-S-T-D-A, 269 00:14:17.025 --> 00:14:21.565 uh, we can attribute $85 of us export content, um, 270 00:14:21.745 --> 00:14:24.445 as a result of the technical assistance that we're able 271 00:14:24.445 --> 00:14:26.365 to provide through our grant funding. 272 00:14:31.505 --> 00:14:33.165 So that's a look at, at who we are from 273 00:14:33.205 --> 00:14:34.365 a, a global perspective. 274 00:14:34.785 --> 00:14:38.565 Um, in Africa, uh, we are an implementing agency 275 00:14:38.705 --> 00:14:42.285 of this much broader interagency effort of, of power Africa, 276 00:14:43.505 --> 00:14:46.445 and we play a role really at the sort 277 00:14:46.445 --> 00:14:47.725 of the origination stage. 278 00:14:48.185 --> 00:14:51.285 Uh, power Africa recall is all about new capacity, 279 00:14:51.625 --> 00:14:55.045 new connections, um, in a, in a Power Africa context, 280 00:14:55.345 --> 00:14:58.605 we are responsible for identifying, uh, 281 00:14:58.905 --> 00:15:01.365 new power projects all the way. 282 00:15:01.365 --> 00:15:04.485 At the headwaters of the project development lifecycle. 283 00:15:04.825 --> 00:15:07.645 We are responsible for identifying the infrastructure 284 00:15:07.645 --> 00:15:09.765 project promoters who have the highest likelihood 285 00:15:09.765 --> 00:15:13.325 of achieving financial close, identifying a scope of work 286 00:15:13.555 --> 00:15:16.125 that will help them, um, get from 287 00:15:16.845 --> 00:15:19.525 wherever they are in their development life cycle to a stage 288 00:15:19.535 --> 00:15:21.645 where they are ready to be bankable. 289 00:15:22.785 --> 00:15:25.125 Uh, we have 57 projects today. 290 00:15:25.345 --> 00:15:27.325 Um, as of later this afternoon, 291 00:15:27.425 --> 00:15:30.765 we will have 58 if all goes well at our board meeting. 292 00:15:31.585 --> 00:15:35.765 And, uh, each of these projects, uh, is, uh, 293 00:15:36.475 --> 00:15:40.525 percolating towards financial close, uh, at one degree of, 294 00:15:40.785 --> 00:15:42.005 of maturity or another. 295 00:15:42.505 --> 00:15:45.605 Um, that final figure of $3 billion, um, 296 00:15:46.005 --> 00:15:48.205 a must apologize for that. 297 00:15:48.235 --> 00:15:51.325 This is an old slide that I pulled in from a previous deck. 298 00:15:51.705 --> 00:15:54.645 Um, the latest figure is more like 6.5. 299 00:15:55.025 --> 00:15:56.485 Um, just to be clear, that's, 300 00:15:56.485 --> 00:16:00.405 that's $6.5 billion in potential exports 301 00:16:00.515 --> 00:16:02.485 that we anticipate we can realize 302 00:16:02.595 --> 00:16:05.605 through our Power Africa portfolio alone, 303 00:16:06.335 --> 00:16:07.725 which I'm quite proud of. 304 00:16:08.785 --> 00:16:12.365 Um, but that's just on the US export content side, 305 00:16:12.365 --> 00:16:13.885 which is an important piece of the puzzle, 306 00:16:13.985 --> 00:16:15.645 and it's the one that I think principally 307 00:16:15.645 --> 00:16:16.885 we'll be talking about today. 308 00:16:18.025 --> 00:16:21.125 The impact side of the story, I think is, is, 309 00:16:21.345 --> 00:16:22.365 is just as important. 310 00:16:23.105 --> 00:16:25.725 Um, this is more than a gigawatt of 311 00:16:26.235 --> 00:16:28.485 potential new generation capacity. 312 00:16:28.485 --> 00:16:31.005 This gets us a long way down the field towards the 313 00:16:31.005 --> 00:16:32.645 objectives of, of power Africa, 314 00:16:33.265 --> 00:16:37.085 and along the way, 2 million Africans will be connected, um, 315 00:16:37.345 --> 00:16:39.445 to the grid, uh, or 316 00:16:39.445 --> 00:16:43.205 otherwise have access to commercial, uh, high quality energy 317 00:16:43.255 --> 00:16:44.405 where they didn't before. 318 00:16:45.705 --> 00:16:48.685 Um, and since anecdotes are, are kind of fun, um, I'll, 319 00:16:48.685 --> 00:16:51.605 I'll describe a little bit the picture on the right. 320 00:16:52.545 --> 00:16:55.605 Um, this is one of, sort of a representation of, of one 321 00:16:55.605 --> 00:16:58.525 of the grantees, so one of the 58 plus 322 00:16:58.585 --> 00:17:01.405 or minus, um, in our, in our portfolio presently. 323 00:17:01.665 --> 00:17:04.885 Um, the, the grantee for this project, not pictured, um, 324 00:17:04.985 --> 00:17:07.245 is a gentleman named, uh, Caleb King. 325 00:17:07.705 --> 00:17:11.285 Uh, he is a, a medical doctor who 326 00:17:11.825 --> 00:17:15.125 is also an electrical engineer, uh, trained at MIT. 327 00:17:15.505 --> 00:17:17.405 Um, he's also a, a Methodist missionary. 328 00:17:17.705 --> 00:17:20.805 And after the genocide in Rwanda 329 00:17:21.465 --> 00:17:25.605 in the middle nineties, uh, he was inspired to, uh, 330 00:17:25.635 --> 00:17:28.445 pack up his family and move to a remote corner 331 00:17:28.625 --> 00:17:31.885 of Northern Rwanda, uh, near the border with, with DRC. 332 00:17:32.835 --> 00:17:35.085 This is a, a conflict region that even 333 00:17:35.085 --> 00:17:39.845 before the genocide was racked by generations of conflict, 334 00:17:40.825 --> 00:17:44.165 and the infrastructure was in a very sorry state, 335 00:17:44.305 --> 00:17:47.645 as you can imagine, uh, being a medical doctor, he 336 00:17:48.195 --> 00:17:50.845 took over a hospital with his own equity. 337 00:17:50.985 --> 00:17:53.205 He rebuilt it essentially from the ground up. 338 00:17:53.745 --> 00:17:56.085 As the years went by, though, he noticed that 339 00:17:57.145 --> 00:18:00.165 not having access to a reliable energy source meant 340 00:18:00.165 --> 00:18:02.565 that he had to pull in diesel generators, um, 341 00:18:02.785 --> 00:18:05.685 and the expense was doing violence 342 00:18:05.825 --> 00:18:09.685 to his bottom line was making it really difficult for his, 343 00:18:10.025 --> 00:18:13.125 um, uh, his, his self-funded, um, 344 00:18:13.235 --> 00:18:15.325 medical enterprise to be sustainable. 345 00:18:16.465 --> 00:18:18.405 So he worked with U-S-T-D-A 346 00:18:18.865 --> 00:18:20.525 to essentially go into the power business. 347 00:18:20.865 --> 00:18:24.645 Um, that corner of, of rural Rwanda is surrounded 348 00:18:25.225 --> 00:18:29.885 on all sides by, uh, rivers, which throughout the year, 349 00:18:29.985 --> 00:18:32.445 so there's no seasonality really to these rivers. 350 00:18:32.955 --> 00:18:36.845 They have really great power generation profiles, 351 00:18:37.025 --> 00:18:39.605 really steep, um, uh, hills 352 00:18:39.985 --> 00:18:41.325 and, uh, steady flow 353 00:18:41.325 --> 00:18:43.525 that doesn't really attenuate in the dry season. 354 00:18:44.265 --> 00:18:47.845 Um, with us TDA a's support, he established the feasibility 355 00:18:48.825 --> 00:18:52.845 of a whole cascade of hydropower projects, uh, 356 00:18:52.845 --> 00:18:55.605 that are quite close, not only to his hospital, um, 357 00:18:55.605 --> 00:18:58.645 which has now been electrified through, um, the provision 358 00:18:58.645 --> 00:19:01.605 of power from the facility that you can see on the slide. 359 00:19:02.625 --> 00:19:05.525 Um, but also several villages 360 00:19:05.525 --> 00:19:07.805 around the hospital have been electrified as well. 361 00:19:08.025 --> 00:19:12.125 Uh, these are villages where if they'd had power at all, um, 362 00:19:12.665 --> 00:19:15.925 in the past, they'd had it from a diesel generator, uh, 363 00:19:15.925 --> 00:19:17.245 so it was only available to them 364 00:19:17.755 --> 00:19:19.925 when the diesel itself was available 365 00:19:19.945 --> 00:19:21.725 to whoever was selling them the power. 366 00:19:22.385 --> 00:19:23.645 Um, and if it was available, 367 00:19:23.825 --> 00:19:26.645 it was available at a very high cost. 368 00:19:27.225 --> 00:19:31.725 Um, the cost that, um, this hydropower represents is, 369 00:19:31.725 --> 00:19:34.125 is substantially lower than what, uh, 370 00:19:34.125 --> 00:19:35.885 these villagers were were paying before. 371 00:19:36.745 --> 00:19:40.365 Now, this is a, uh, uh, this is a very small scale version 372 00:19:40.485 --> 00:19:41.725 of the, of the work that we do. 373 00:19:41.865 --> 00:19:46.565 Um, the facility you see is about, uh, 500 kilowatts only, 374 00:19:46.705 --> 00:19:48.965 uh, which is not very large. 375 00:19:49.465 --> 00:19:53.285 Um, and the cascade, uh, that we hope to develop, uh, 376 00:19:53.335 --> 00:19:54.805 won't be too much larger than that. 377 00:19:55.705 --> 00:19:58.525 Uh, but I think it's an interesting window into the kind 378 00:19:58.765 --> 00:20:03.165 of work that we do, um, uh, the, the kind of, um, 379 00:20:03.165 --> 00:20:06.525 opportunities that our work presents to us businesses 380 00:20:07.065 --> 00:20:08.965 and, uh, how the, the work 381 00:20:09.035 --> 00:20:11.565 that we do can be scaled up across the continent. 382 00:20:14.185 --> 00:20:16.845 So in terms of scaling it up across the continent, let's, 383 00:20:16.845 --> 00:20:19.325 let's just take a look at, uh, from a broader perspective, 384 00:20:19.355 --> 00:20:20.685 what our portfolio looks like. 385 00:20:21.345 --> 00:20:24.965 Um, we're very active in the gas sector, in part 386 00:20:24.965 --> 00:20:28.605 because the US enjoys such a strong competitive position 387 00:20:28.605 --> 00:20:31.045 internationally in the gas sector, but in part 388 00:20:31.045 --> 00:20:34.205 because it's a really good fit for a lot of the challenges, 389 00:20:34.225 --> 00:20:36.085 not all of them, but for a lot of the challenges 390 00:20:36.085 --> 00:20:37.205 that that Africa is facing. 391 00:20:38.985 --> 00:20:42.765 Um, this slide doesn't really do justice to our portfolio. 392 00:20:43.025 --> 00:20:44.245 Uh, excuse me, our portfolio. 393 00:20:44.425 --> 00:20:47.045 Uh, there are a number of ventures, uh, in our portfolio 394 00:20:47.125 --> 00:20:48.205 that aren't represented here. 395 00:20:48.905 --> 00:20:52.925 Um, for example, we're working with the, uh, Dangote group, 396 00:20:53.145 --> 00:20:57.725 um, one of the most significant corporations in Africa on a, 397 00:20:57.825 --> 00:20:59.885 uh, pipeline, or excuse me, a, uh, refinery 398 00:20:59.945 --> 00:21:02.205 and pipeline project, uh, in Nigeria. 399 00:21:02.585 --> 00:21:04.085 Uh, we're also working on a, um, 400 00:21:05.105 --> 00:21:07.605 on a compressed natural gas, uh, terminal 401 00:21:08.105 --> 00:21:10.365 for a transportation project in Nigeria, 402 00:21:11.305 --> 00:21:12.605 and a few other odds and ends, 403 00:21:12.625 --> 00:21:15.605 but this is a useful kind of summary of, of the work 404 00:21:15.605 --> 00:21:16.885 that we're doing in natural gas. 405 00:21:17.825 --> 00:21:19.445 Um, my hope is 406 00:21:19.445 --> 00:21:23.525 that your takeaway from this slide is the $5 billion 407 00:21:24.185 --> 00:21:28.085 in potential export opportunities for US businesses, um, 408 00:21:28.505 --> 00:21:31.245 should all of these projects rectify 409 00:21:34.545 --> 00:21:37.405 In a lot of ways the, the solar opportunities 410 00:21:37.405 --> 00:21:39.325 that we're pursuing around the continent 411 00:21:39.705 --> 00:21:40.925 are just as compelling. 412 00:21:41.345 --> 00:21:46.285 Um, the export content possibilities for us businesses are, 413 00:21:46.545 --> 00:21:48.165 um, are certainly less so. 414 00:21:49.495 --> 00:21:51.995 Um, but the opportunity for, uh, 415 00:21:52.095 --> 00:21:54.875 impact in Africa is really profound. 416 00:21:55.255 --> 00:21:56.995 Um, solar facilities can be built quickly. 417 00:21:57.495 --> 00:22:00.595 Uh, the cost of power is extremely low, 418 00:22:01.495 --> 00:22:06.035 and, uh, Africa is among the, uh, in many corners of Africa, 419 00:22:06.035 --> 00:22:08.235 are among the sunniest places on the planet. 420 00:22:08.775 --> 00:22:10.395 Um, this is a very interesting resource 421 00:22:10.395 --> 00:22:13.075 to be harnessing in order to, uh, accomplish some of those 422 00:22:13.595 --> 00:22:16.995 previously stated objectives of, of providing power, um, 423 00:22:17.115 --> 00:22:18.395 facilitating access. 424 00:22:19.095 --> 00:22:22.555 Um, the reason I like our solar portfolio so much is 425 00:22:22.555 --> 00:22:25.035 because of, its, because of its breadth, uh, 426 00:22:25.035 --> 00:22:26.915 breadth from a capacity standpoint. 427 00:22:27.335 --> 00:22:30.675 On one end of the spectrum, we're sponsoring a 100 megawatt, 428 00:22:30.935 --> 00:22:34.075 uh, solar CSP, uh, uh, excuse me, uh, uh, 429 00:22:34.475 --> 00:22:37.995 concentrated solar power, uh, project in the Western Cape 430 00:22:38.015 --> 00:22:39.155 of, of South Africa. 431 00:22:40.815 --> 00:22:44.675 Um, this is a, uh, a quite a sophisticated technology. 432 00:22:44.975 --> 00:22:47.395 Um, there are precedents for it around the world, 433 00:22:47.455 --> 00:22:50.875 but very few, uh, when this thing is built, it will be a, a, 434 00:22:51.035 --> 00:22:55.155 a really fantastic machine, um, that will provide 435 00:22:55.695 --> 00:22:57.595 20 to 24 hours of power. 436 00:22:57.855 --> 00:22:59.835 Um, so that is to say, this is solar power 437 00:22:59.835 --> 00:23:02.355 that will continue delivering electricity into the grid 438 00:23:02.355 --> 00:23:05.715 after the sun goes down at the other end of that spectrum. 439 00:23:06.245 --> 00:23:09.195 We're also working with a, um, uh, 440 00:23:09.395 --> 00:23:13.875 a small business based in suburban Atlanta that offers a, 441 00:23:14.255 --> 00:23:17.155 uh, containerized solar mini grid solution. 442 00:23:17.615 --> 00:23:22.515 Uh, these are, uh, three to, to 500 kilowatt machines, 443 00:23:22.735 --> 00:23:24.675 uh, that is to say, very small machines 444 00:23:24.675 --> 00:23:27.755 that can be loaded into a shipping container delivered 445 00:23:27.755 --> 00:23:30.115 to a village where, uh, previously there was no access 446 00:23:30.115 --> 00:23:34.275 to power, and a mini grid can be essentially unfolded 447 00:23:34.505 --> 00:23:35.555 from the container. 448 00:23:36.295 --> 00:23:40.235 Uh, we see this as, uh, we see those two kinds of projects 449 00:23:40.235 --> 00:23:42.795 as solutions to very different kinds of problems, 450 00:23:43.255 --> 00:23:46.765 and we're proud to be playing a role in the delivery 451 00:23:46.785 --> 00:23:49.445 of those kinds of solutions all across the continent. 452 00:23:53.025 --> 00:23:56.305 I thought it would be valuable to, um, give you a tour of, 453 00:23:56.305 --> 00:23:58.825 of some of the specific, uh, US businesses 454 00:23:59.095 --> 00:24:01.505 that are benefiting from the kind of support that, 455 00:24:01.505 --> 00:24:02.505 that we provide. 456 00:24:03.885 --> 00:24:07.305 Um, starting up top is, uh, Ripley hydropower. 457 00:24:08.685 --> 00:24:11.625 Um, I visited the, uh, Ripley hydropower, uh, 458 00:24:11.625 --> 00:24:15.265 factory in Columbus, Ohio only, uh, a couple of, uh, 459 00:24:15.265 --> 00:24:16.905 months ago, um, 460 00:24:16.905 --> 00:24:19.345 and met with the team to discuss, uh, new project 461 00:24:19.345 --> 00:24:21.705 that they have in Tanzania. 462 00:24:22.965 --> 00:24:24.345 Uh, we have a number 463 00:24:24.345 --> 00:24:26.905 of grant funded activities ongoing in Tanzania 464 00:24:26.925 --> 00:24:29.385 and in particular in the hydro space. 465 00:24:30.045 --> 00:24:34.625 Um, on, in all of the activities that we fund, we, 466 00:24:35.205 --> 00:24:38.625 um, throughout the development life cycle will, uh, 467 00:24:38.735 --> 00:24:42.505 work hard to expose, uh, project developers in Africa 468 00:24:42.965 --> 00:24:47.105 to opportunities, um, to engage with US businesses. 469 00:24:47.685 --> 00:24:49.665 In the course of engaging with, uh, 470 00:24:49.965 --> 00:24:53.305 one project developer in Africa, uh, we brought them 471 00:24:53.645 --> 00:24:56.065 to Columbus, Ohio to tour, um, 472 00:24:56.065 --> 00:24:57.625 the Wrigley Hydropower facility, 473 00:24:57.685 --> 00:25:00.145 and a number of other facilities in the neighborhood, uh, 474 00:25:00.145 --> 00:25:03.665 such as a foundry in, uh, uh, Springfield, Ohio, 475 00:25:03.755 --> 00:25:07.065 which was responsible for creating the castings, uh, 476 00:25:07.135 --> 00:25:10.905 necessary to, uh, manufacture some of the larger turbines, 477 00:25:10.965 --> 00:25:13.745 uh, that are, that are exported, uh, by Rick Lee. 478 00:25:14.325 --> 00:25:16.065 Uh, they were quite impressed by what they saw, 479 00:25:17.645 --> 00:25:21.065 and they, uh, filled an order for about, uh, 480 00:25:21.185 --> 00:25:23.505 a megawatt worth of turbines, uh, 481 00:25:23.505 --> 00:25:25.065 which are presently being constructed. 482 00:25:25.685 --> 00:25:28.225 Um, this'll be anywhere from 500,000 483 00:25:28.225 --> 00:25:32.385 to about a million dollars worth of business, uh, not, uh, 484 00:25:32.915 --> 00:25:35.545 going to, um, you know, accomplish the objectives 485 00:25:35.545 --> 00:25:36.945 of Power Africa on its own, 486 00:25:37.005 --> 00:25:38.545 but I think it's an interesting anecdote. 487 00:25:39.165 --> 00:25:44.025 Um, Olivo is a Swiss, uh, battery manufacturer 488 00:25:44.375 --> 00:25:48.305 with a significant manufacturing presence in North Carolina, 489 00:25:49.345 --> 00:25:52.025 a recently open factory there, has big ambitions, uh, 490 00:25:52.045 --> 00:25:53.865 not only to work in the domestic marketplace, 491 00:25:53.885 --> 00:25:56.545 but also to export its product abroad. 492 00:25:57.045 --> 00:26:00.985 Uh, we're working with Olivo to, uh, tie in 493 00:26:01.295 --> 00:26:04.985 what we think will be something like a 25 megawatt hour, uh, 494 00:26:04.985 --> 00:26:09.865 battery bank to a solar facility, a 40 megawatt, uh, 495 00:26:10.065 --> 00:26:13.505 photovoltaic solar facility in Kenya that has, 496 00:26:14.725 --> 00:26:17.105 excuse me, that has, uh, reached financial close 497 00:26:17.165 --> 00:26:20.145 and is very likely to soon be interconnected to the grid. 498 00:26:21.125 --> 00:26:24.105 Uh, a 40 megawatt solar PV plant in Kenya 499 00:26:24.495 --> 00:26:27.545 with a 25 megawatt hour, uh, battery, uh, 500 00:26:27.545 --> 00:26:31.025 storage solution would be really novel across, uh, 501 00:26:31.085 --> 00:26:33.385 not just Kenya, but throughout Sub-Saharan Africa. 502 00:26:33.925 --> 00:26:36.185 Um, this is the kind of facility that has the potential 503 00:26:36.185 --> 00:26:39.185 to really demonstrate the utility of, uh, 504 00:26:39.185 --> 00:26:43.445 battery storage technology, the utility of solar, um, 505 00:26:43.905 --> 00:26:46.605 and the, the value proposition of, 506 00:26:46.625 --> 00:26:48.165 of us business in particular. 507 00:26:48.585 --> 00:26:51.085 Um, we see storage as a real frontier, 508 00:26:51.305 --> 00:26:54.165 and we're eager to make sure that that us, uh, 509 00:26:54.365 --> 00:26:57.325 manufactured content, um, has a role to play, 510 00:26:57.545 --> 00:26:58.685 uh, on that frontier. 511 00:26:59.225 --> 00:27:01.845 Um, and Ali o is a key partner of ours in that regard. 512 00:27:02.745 --> 00:27:04.645 So I've discussed Renua a little bit. 513 00:27:04.645 --> 00:27:08.045 They offer a containerized solar solution, um, 514 00:27:08.565 --> 00:27:11.565 standard microgrid, um, in Sacramento, 515 00:27:11.565 --> 00:27:14.045 California offers a similar solution. 516 00:27:14.265 --> 00:27:16.925 Um, it's quite a bit smaller than what Renua offers. 517 00:27:18.615 --> 00:27:22.125 While, uh, with Renua, we are sponsoring a pilot test 518 00:27:22.505 --> 00:27:25.565 of eight facilities throughout, uh, rural Kenya. 519 00:27:26.145 --> 00:27:29.125 Uh, with standard microgrid, we're sponsoring a pilot test 520 00:27:29.125 --> 00:27:32.965 of about 150 facilities throughout Zambia, um, 521 00:27:33.025 --> 00:27:35.765 in much more rural locations where, uh, 522 00:27:36.035 --> 00:27:38.605 smaller facilities are more appropriate. 523 00:27:39.145 --> 00:27:43.205 Um, these are communities that have never had access to, uh, 524 00:27:43.205 --> 00:27:44.885 commercial energy for the most part. 525 00:27:45.145 --> 00:27:47.365 Um, and there's very little demand, uh, 526 00:27:47.365 --> 00:27:49.805 so a smaller facility, uh, the kind of product 527 00:27:49.915 --> 00:27:53.045 that standard microgrid offers is much more appropriate in 528 00:27:53.045 --> 00:27:54.325 those kinds of contexts. 529 00:27:55.635 --> 00:27:57.285 Finally, Langston Energy. 530 00:27:57.865 --> 00:27:59.765 Uh, these guys are fascinating to me. 531 00:27:59.765 --> 00:28:03.845 What they offer is a system that, uh, 532 00:28:04.185 --> 00:28:07.885 can be incorporated into existing geothermal power 533 00:28:07.885 --> 00:28:09.085 generation technology. 534 00:28:09.825 --> 00:28:12.565 Uh, Langston Energy can capture heat that would 535 00:28:12.565 --> 00:28:14.325 otherwise be vented to the atmosphere 536 00:28:14.785 --> 00:28:17.285 and turn it into electricity. 537 00:28:17.985 --> 00:28:21.045 Um, the technology has been, uh, 538 00:28:21.365 --> 00:28:23.045 deployed in the United States. 539 00:28:23.345 --> 00:28:27.165 Uh, it's been deployed in other developed world contexts. 540 00:28:27.625 --> 00:28:29.885 All of those contexts, for the most part, are mature. 541 00:28:29.915 --> 00:28:33.085 There's, there's not very much greenfield geothermal 542 00:28:33.235 --> 00:28:36.405 development happening in the developed marketplaces 543 00:28:36.405 --> 00:28:37.685 of the world for Langs 544 00:28:37.685 --> 00:28:40.085 and energy for companies like Langs and Energy. 545 00:28:40.585 --> 00:28:42.085 Um, in the us, uh, 546 00:28:42.805 --> 00:28:45.005 emerging markets represent their growth opportunities. 547 00:28:45.505 --> 00:28:49.005 Um, they were excited to engage with the U-S-T-D-A, uh, 548 00:28:49.005 --> 00:28:50.045 because they don't, they didn't 549 00:28:50.045 --> 00:28:52.205 otherwise have an avenue into Africa. 550 00:28:52.435 --> 00:28:55.845 Through our grant funding, uh, they are able to pilot, 551 00:28:55.875 --> 00:28:58.885 test their technology in the African context, uh, 552 00:28:59.385 --> 00:29:02.805 in this case in a, in a Kenyan context, in the Aria field, 553 00:29:03.975 --> 00:29:05.885 learn from it, um, understand how 554 00:29:05.885 --> 00:29:09.325 to modify their business model in order to accommodate, um, 555 00:29:09.585 --> 00:29:12.005 the, uh, the, the country context 556 00:29:12.825 --> 00:29:15.885 and hopefully grow, hopefully expand into, uh, 557 00:29:15.885 --> 00:29:17.365 other adjoining marketplaces. 558 00:29:21.585 --> 00:29:24.805 So, I've talked a lot about our, our global portfolio. 559 00:29:24.875 --> 00:29:26.365 I've talked about our Africa portfolio. 560 00:29:26.785 --> 00:29:29.565 Um, I don't wanna lose sight of the fact that we work 561 00:29:29.805 --> 00:29:31.405 with businesses in 50 states 562 00:29:31.625 --> 00:29:34.085 and Indiana, um, is certainly among them. 563 00:29:35.145 --> 00:29:38.845 Uh, we, uh, over our, uh, 564 00:29:38.915 --> 00:29:40.685 institutional life, um, 565 00:29:40.835 --> 00:29:44.365 have attributed about 60 million plus 566 00:29:44.385 --> 00:29:48.085 or minus, um, to Indiana, uh, businesses. 567 00:29:48.265 --> 00:29:51.365 Uh, that is to say, uh, we have, um, uh, 568 00:29:51.695 --> 00:29:54.965 attributed about $60 million in, in exports, um, 569 00:29:54.965 --> 00:29:58.325 from Indiana businesses, um, around the world 570 00:29:58.345 --> 00:29:59.845 to emerging markets around the world 571 00:30:00.715 --> 00:30:02.285 that are at attributable to the work 572 00:30:02.285 --> 00:30:03.485 that U-S-T-D-A has done. 573 00:30:04.265 --> 00:30:06.885 Um, so we're, we're very proud of that legacy. 574 00:30:07.145 --> 00:30:11.245 Uh, we're proud of, um, those activities and, 575 00:30:11.245 --> 00:30:14.245 and we hope to find, uh, new ways to engage with businesses, 576 00:30:14.505 --> 00:30:18.125 um, throughout the us, um, and of course in Indiana as well. 577 00:30:19.505 --> 00:30:24.085 Um, so this brings me to the end of my, uh, 578 00:30:24.305 --> 00:30:25.445 my presentation here. 579 00:30:25.665 --> 00:30:28.445 Um, since this is such a small crowd, I was hoping that, um, 580 00:30:28.585 --> 00:30:30.845 we could engage in, in something like a conversation. 581 00:30:31.345 --> 00:30:33.125 So I would welcome any questions that you have, 582 00:30:33.125 --> 00:30:37.725 either about U-S-T-D-A, the role that we play, um, in Africa 583 00:30:37.945 --> 00:30:39.885 or in other emerging marketplaces. 584 00:30:41.065 --> 00:30:42.085 Um, sir, 585 00:30:43.065 --> 00:30:46.445 My question would be how does an Indiana company interact 586 00:30:46.445 --> 00:30:47.605 with U-S-T-E-A? 587 00:30:47.725 --> 00:30:49.165 I think that's the essential question 588 00:30:49.165 --> 00:30:52.205 that most people would say, okay, the sounds interesting. 589 00:30:52.475 --> 00:30:54.925 Yeah. You know, how do I take advantage of it 590 00:30:55.145 --> 00:30:57.485 as a small company if I'm not the size 591 00:30:57.485 --> 00:30:58.805 of companies, for example, here 592 00:30:58.805 --> 00:30:59.805 Locally? Sure. What 593 00:30:59.805 --> 00:31:00.845 do I do? Sure. 594 00:31:00.945 --> 00:31:04.845 So, uh, There are a lot 595 00:31:04.845 --> 00:31:07.005 of large companies on this list, no doubt, um, 596 00:31:07.005 --> 00:31:08.205 but some small ones as well. 597 00:31:08.665 --> 00:31:11.285 Um, the small companies that we've engaged with, um, 598 00:31:11.585 --> 00:31:14.365 in Indiana around the world, uh, for the, 599 00:31:14.365 --> 00:31:16.645 or excuse me, around the United States, uh, 600 00:31:16.665 --> 00:31:19.165 for the most part, they have participated in our, uh, 601 00:31:19.165 --> 00:31:20.445 reverse trade missions. 602 00:31:20.905 --> 00:31:23.605 And this is not something that I went into too much detail, 603 00:31:23.825 --> 00:31:25.605 um, about course of my talk. 604 00:31:26.305 --> 00:31:28.085 Um, but they're a key part of what we do. 605 00:31:28.505 --> 00:31:31.965 Um, uh, the Department of Commerce sponsors, uh, 606 00:31:32.135 --> 00:31:35.005 trade missions from time to time where, uh, 607 00:31:35.325 --> 00:31:37.285 delegates will go to marketplaces abroad 608 00:31:37.305 --> 00:31:39.325 to learn more about what's going on in, 609 00:31:39.325 --> 00:31:40.365 in those marketplaces. 610 00:31:40.675 --> 00:31:42.765 What TDA does is, is really very different. 611 00:31:43.065 --> 00:31:47.485 Uh, we will take, uh, delegates from, let's say, procurement 612 00:31:48.005 --> 00:31:50.805 agencies in emerging market governments. 613 00:31:51.265 --> 00:31:54.325 Uh, we will take business leaders from, uh, target 614 00:31:54.845 --> 00:31:56.165 emerging markets themselves 615 00:31:56.945 --> 00:31:58.565 and, uh, give them a tour 616 00:31:59.145 --> 00:32:01.645 of the value proposition of US business. 617 00:32:01.705 --> 00:32:04.765 We will take them to Columbus, Ohio, for example, to visit 618 00:32:04.765 --> 00:32:06.125 with Wrigley hydropower. 619 00:32:06.465 --> 00:32:10.805 Uh, we'll take them to Carson City, Nevada to visit with, 620 00:32:11.185 --> 00:32:12.645 uh, Langston Energy. 621 00:32:13.625 --> 00:32:14.725 We do that regularly. 622 00:32:14.785 --> 00:32:17.165 That's a key component of the work that we do. 623 00:32:17.665 --> 00:32:21.125 Um, and it's a, it's a great way for small businesses 624 00:32:21.545 --> 00:32:24.045 to get engaged with emerging marketplaces without 625 00:32:24.045 --> 00:32:25.085 ever leaving the zip code. 626 00:32:25.545 --> 00:32:29.005 Uh, we, we advertise our reverse trade mission 627 00:32:29.005 --> 00:32:30.525 activities months in advance. 628 00:32:31.145 --> 00:32:35.685 Um, the best way to keep up with that is, um, uh, 629 00:32:36.435 --> 00:32:37.845 certainly on our website. 630 00:32:38.145 --> 00:32:42.885 Um, my, uh, contact information is, is on this slide. 631 00:32:43.065 --> 00:32:46.845 Um, I can refer you, uh, directly to the spot on our website 632 00:32:46.845 --> 00:32:49.085 where we tend to park this information. 633 00:32:49.505 --> 00:32:52.565 Um, in addition to that, if there is a, uh, 634 00:32:52.565 --> 00:32:54.765 Indiana business, if there is a domestic business anywhere 635 00:32:54.765 --> 00:32:58.765 in the US that is, um, working with, 636 00:32:59.215 --> 00:33:01.245 let's say an African enterprise on 637 00:33:02.145 --> 00:33:05.805 an infrastructure venture, uh, we can, uh, 638 00:33:05.835 --> 00:33:09.045 examine a proposal for grant funding, um, 639 00:33:09.425 --> 00:33:10.485 on an ongoing basis. 640 00:33:10.705 --> 00:33:13.285 We don't publish periodic calls for proposals. 641 00:33:14.025 --> 00:33:15.885 Um, we are always receptive 642 00:33:15.965 --> 00:33:18.365 to proposals from qualifying entities. 643 00:33:19.045 --> 00:33:21.285 A brief note about what might qualify as a, 644 00:33:21.305 --> 00:33:25.685 as a perspective offer from US TDAs perspective, um, we have 645 00:33:25.685 --> 00:33:29.085 to engage with a, uh, 646 00:33:29.225 --> 00:33:32.845 an entity in an emerging market that has to be our grantee, 647 00:33:34.385 --> 00:33:37.925 but no U-S-T-D-A funds ever go directly to that grantee. 648 00:33:38.465 --> 00:33:41.085 We help that grantee enter into a contract 649 00:33:41.115 --> 00:33:45.045 with a US business who will provide, uh, scope of services 650 00:33:45.385 --> 00:33:48.645 to that grantee, and all of the US TD funds go 651 00:33:48.645 --> 00:33:50.605 to pay the invoices of that contractor. 652 00:33:51.545 --> 00:33:54.205 If there are Indiana service providers, 653 00:33:54.205 --> 00:33:57.605 let's say an engineering firm, uh, eager to work with, 654 00:33:58.215 --> 00:34:01.605 let's say, a special purpose vehicle developing a 655 00:34:01.755 --> 00:34:05.325 ring-fenced, a hundred megawatt gas fired power project in 656 00:34:05.325 --> 00:34:09.085 Nigeria, um, we could review a proposal, uh, from 657 00:34:09.715 --> 00:34:10.765 that entity. 658 00:34:10.765 --> 00:34:14.085 So from that Indiana contractor from that gas fired 659 00:34:14.615 --> 00:34:17.725 power project promoter, um, for grant funding. 660 00:34:18.985 --> 00:34:22.125 Um, our grant packages typically are on the order 661 00:34:22.145 --> 00:34:25.445 of about a half million to, uh, $1.5 million. 662 00:34:25.985 --> 00:34:27.685 Uh, the larger the grants themselves, 663 00:34:27.905 --> 00:34:29.365 the more scrutiny they would tend 664 00:34:29.365 --> 00:34:31.085 to draw from our executive board. 665 00:34:31.385 --> 00:34:33.605 Uh, but there is plenty of precedent for us, uh, 666 00:34:33.605 --> 00:34:36.365 extending grants on the order of about a million dollars 667 00:34:36.585 --> 00:34:39.485 for, uh, power project promotion, uh, 668 00:34:39.485 --> 00:34:41.085 for infrastructure project promotion. 669 00:34:41.385 --> 00:34:44.325 Um, uh, more broadly, sir. Yes. 670 00:34:44.985 --> 00:34:47.485 I'm just curious about, 671 00:34:55.545 --> 00:34:58.325 So the, the question was concerning the, the mini grid. 672 00:34:59.235 --> 00:35:03.285 Okay. Um, well, the, um, the, the objectives of, 673 00:35:03.285 --> 00:35:07.325 of the Power Africa, uh, initiative very broadly are to, um, 674 00:35:07.325 --> 00:35:08.885 help establish new capacity. 675 00:35:08.945 --> 00:35:13.445 So new, new megawatts at centralized generating station, uh, 676 00:35:13.445 --> 00:35:14.845 generating stations, uh, 677 00:35:14.865 --> 00:35:19.725 but also to expand access to, um, customers 678 00:35:19.725 --> 00:35:22.805 that presently aren't connected to any central grid. 679 00:35:24.185 --> 00:35:27.845 Uh, U-S-T-D-A accomplishes that second objective in part 680 00:35:28.305 --> 00:35:30.645 by sponsoring, uh, mini grid activities. 681 00:35:31.225 --> 00:35:34.725 Um, now mini grids in, in this context are, are defined as, 682 00:35:35.345 --> 00:35:40.285 um, enterprises where, uh, uh, a generating station, uh, 683 00:35:40.345 --> 00:35:43.045 so an electrical generating station isn't interconnected 684 00:35:43.045 --> 00:35:44.685 with any sort of central grid. 685 00:35:44.715 --> 00:35:46.685 It's just a standalone generating 686 00:35:46.685 --> 00:35:48.845 and power dis distribution enterprise. 687 00:35:49.625 --> 00:35:52.565 Um, there are several models that, that we are exploring 688 00:35:52.565 --> 00:35:54.005 through feasibility studies 689 00:35:54.385 --> 00:35:57.005 and through pilot tests, uh, throughout our portfolio. 690 00:35:57.545 --> 00:36:00.285 And the two that I mentioned, um, which I think are, are 691 00:36:00.285 --> 00:36:04.645 among the most compelling, are the standard microgrid model, 692 00:36:04.985 --> 00:36:08.045 um, that we're pilot testing in Zambia. 693 00:36:08.585 --> 00:36:10.805 Um, and the Renua model, uh, 694 00:36:10.805 --> 00:36:12.365 that we're pilot testing in Kenya, 695 00:36:13.265 --> 00:36:16.565 the standard microgrid delivers, um, a very small, uh, 696 00:36:16.765 --> 00:36:19.005 kilowatt scale, uh, solution 697 00:36:19.315 --> 00:36:22.445 that rolls into the village on a trailer, um, 698 00:36:22.625 --> 00:36:25.445 in an intermodal, uh, shipping container, um, 699 00:36:25.505 --> 00:36:30.045 and can be deployed, uh, once again at a kilowatt scale, um, 700 00:36:30.065 --> 00:36:34.685 to several hundred, uh, uh, villagers, 701 00:36:34.865 --> 00:36:37.045 uh, can establish several hundred new connections. 702 00:36:37.505 --> 00:36:39.965 The Renua model is only a little bit different. 703 00:36:40.105 --> 00:36:43.125 Um, it is also containerized, it is also, uh, 704 00:36:43.125 --> 00:36:45.565 solar generating technology, um, 705 00:36:45.665 --> 00:36:47.805 but it can deliver power, uh, 706 00:36:47.945 --> 00:36:50.165 to perhaps a thousand, uh, people. 707 00:36:51.225 --> 00:36:55.365 Um, we feel like there is probably a role in the marketplace 708 00:36:55.705 --> 00:36:58.885 for, uh, certainly these two types of solutions, 709 00:36:59.105 --> 00:37:00.605 and probably many others as well. 710 00:37:01.065 --> 00:37:03.965 Um, so we feel it's a small part of our mandate 711 00:37:04.545 --> 00:37:07.485 to provide a venue, um, just to get those marketplaces out, 712 00:37:07.485 --> 00:37:10.085 excuse me, get those technologies out into the marketplace 713 00:37:10.385 --> 00:37:11.805 to see what works and what doesn't, 714 00:37:11.805 --> 00:37:16.765 and to help us businesses sort of, um, uh, understand, uh, 715 00:37:16.765 --> 00:37:18.965 the utility of, of what they're doing, uh, 716 00:37:19.265 --> 00:37:20.925 modify course correct 717 00:37:21.145 --> 00:37:22.685 and hopefully deploy at a larger scale. 718 00:37:28.585 --> 00:37:32.485 Any other questions? Uh, man. Yeah. 719 00:37:32.585 --> 00:37:35.165 One question. Now, you talked about the us 720 00:37:35.265 --> 00:37:38.245 but what about other countries, for example, China? 721 00:37:41.425 --> 00:37:42.845 How does the us uh, 722 00:37:48.955 --> 00:37:49.955 Sure. So that's, 723 00:37:49.955 --> 00:37:52.085 that's, and it's an excellent point. 724 00:37:52.265 --> 00:37:55.885 Uh, China is a, is a very strong, uh, competitor, uh, 725 00:37:55.885 --> 00:37:57.205 across Sub-Saharan Africa. 726 00:37:58.135 --> 00:38:02.245 Often when there are competitive tenders released by, uh, 727 00:38:02.245 --> 00:38:05.805 governments, um, the Chinese can be quite competitive. 728 00:38:05.805 --> 00:38:08.125 They typically come in with a much lower cost. 729 00:38:08.625 --> 00:38:13.405 Um, the, the Chinese have the benefits of, of, um, 730 00:38:14.415 --> 00:38:18.525 being, uh, state enterprises often, um, enjoying economies 731 00:38:18.525 --> 00:38:20.285 of scale that the US private sector 732 00:38:20.285 --> 00:38:21.365 doesn't necessarily enjoy. 733 00:38:22.065 --> 00:38:25.405 Uh, we feel, and, and we feel this quite strongly, that 734 00:38:26.665 --> 00:38:28.805 US businesses can articulate a certain kind 735 00:38:28.805 --> 00:38:32.485 of a value proposition that Chinese businesses struggle 736 00:38:32.505 --> 00:38:36.605 to articulate, um, that, uh, US businesses, um, 737 00:38:36.995 --> 00:38:39.365 have a lower lifecycle cost. 738 00:38:39.825 --> 00:38:42.085 Um, even if Chinese, um, 739 00:38:43.125 --> 00:38:47.445 products may have a lower upfront cost, A big push 740 00:38:48.145 --> 00:38:52.565 of U-S-T-D-A over the last few years has been to try 741 00:38:52.585 --> 00:38:55.325 to articulate that message directly 742 00:38:55.385 --> 00:38:58.485 to procurement agencies in target emerging 743 00:38:58.485 --> 00:38:59.565 markets around the world. 744 00:39:00.265 --> 00:39:04.085 Um, for example, uh, in an African context in both Ethiopia 745 00:39:04.625 --> 00:39:08.445 and Botswana, uh, presently, uh, we have advisors 746 00:39:08.665 --> 00:39:12.725 who are working with, um, very sensitive, uh, procurement 747 00:39:13.565 --> 00:39:15.205 oriented agencies, um, 748 00:39:16.025 --> 00:39:20.085 and advising them in terms of the, uh, the, 749 00:39:20.085 --> 00:39:23.005 the unique value proposition, not just of us businesses, 750 00:39:23.425 --> 00:39:27.525 but of, um, incorporating best value, um, decision making, 751 00:39:28.025 --> 00:39:30.845 um, into their procurement activities. 752 00:39:30.965 --> 00:39:34.325 So ensuring that it's not just the lowest cost, um, 753 00:39:34.325 --> 00:39:35.325 that wins the award, 754 00:39:35.385 --> 00:39:38.645 but it's the, the lowest, um, the lowest lifecycle cost 755 00:39:39.065 --> 00:39:41.805 and the, and the greatest value, uh, that wins the award. 756 00:39:42.385 --> 00:39:45.125 We feel pretty strongly that, uh, the, the more agencies 757 00:39:45.125 --> 00:39:49.205 that, that begin to focus on, on best value procurement, um, 758 00:39:49.345 --> 00:39:50.685 out there in Sub-Saharan Africa 759 00:39:50.705 --> 00:39:52.725 and in other emerging marketplaces, uh, 760 00:39:52.725 --> 00:39:56.085 the stronger the competitive position of, of US enterprises, 761 00:39:56.385 --> 00:40:00.685 uh, will be, uh, ma'am, I, 762 00:40:00.725 --> 00:40:01.925 I believe you had a question as well, 763 00:40:02.625 --> 00:40:03.165 And how 764 00:40:15.775 --> 00:40:18.505 That isn't, uh, that's, it's certainly a, a critical, uh, 765 00:40:18.505 --> 00:40:22.065 area, the, the question concerned, um, uh, capacity building 766 00:40:22.165 --> 00:40:23.505 and, and workforce development. 767 00:40:24.205 --> 00:40:25.905 Um, this isn't an area 768 00:40:25.955 --> 00:40:29.425 where U-S-T-D-A plays a, a direct role. 769 00:40:29.765 --> 00:40:31.705 Um, more typically, uh, 770 00:40:31.835 --> 00:40:35.785 we're involved in the feasibility study for the, uh, 771 00:40:35.785 --> 00:40:37.465 for the infrastructure project itself, 772 00:40:38.005 --> 00:40:40.225 not necessarily building the capacity, uh, 773 00:40:40.385 --> 00:40:43.425 building the enabling environment around that facility. 774 00:40:44.285 --> 00:40:47.025 Um, with the exception, I would say of the work 775 00:40:47.025 --> 00:40:49.505 that we're doing around procurement reform, uh, the work 776 00:40:49.505 --> 00:40:52.185 that we're doing, let's say, um, evangelizing about the, 777 00:40:52.645 --> 00:40:53.945 the, the benefits of, 778 00:40:53.945 --> 00:40:56.265 of best value procurement versus lowest cost 779 00:40:56.295 --> 00:41:00.945 procurement, sir, 780 00:41:04.095 --> 00:41:06.465 That come in, talk about the building. 781 00:41:06.845 --> 00:41:08.985 Is it new, uh, structures 782 00:41:08.985 --> 00:41:11.505 or can the expansion of a existing 783 00:41:12.065 --> 00:41:13.785 facility in Africa as well? 784 00:41:14.935 --> 00:41:16.475 We certainly do both kinds. 785 00:41:16.775 --> 00:41:20.355 Um, the small hydropower projects, uh, 786 00:41:20.355 --> 00:41:23.115 from several slides ago, you might recall, uh, 787 00:41:23.235 --> 00:41:25.795 that was a rehabilitation of an existing facility. 788 00:41:26.335 --> 00:41:28.875 Um, more frequently I'll, I'll say that we work 789 00:41:28.875 --> 00:41:30.155 with Greenfield projects, 790 00:41:30.155 --> 00:41:33.325 so we're developing infrastructure ventures from scratch, 791 00:41:33.665 --> 00:41:36.005 um, but we're more than receptive to, um, 792 00:41:36.205 --> 00:41:40.005 a rehabilitating existing, uh, uh, facilities as well. 793 00:41:40.205 --> 00:41:41.685 I think we have time for, for maybe 794 00:41:41.745 --> 00:41:42.765 one or two more questions. 795 00:41:46.105 --> 00:41:47.205 Um, sir, 796 00:41:51.585 --> 00:41:53.645 Uh, sorry, just one more question. 797 00:41:53.945 --> 00:41:57.285 Uh, I was, uh, curious about, I, you, 798 00:41:57.345 --> 00:42:01.125 you were particularly concerned not to post this on Africa, 799 00:42:01.225 --> 00:42:03.165 and that's, that's a reasonable concern, 800 00:42:03.185 --> 00:42:05.885 and I know that they're really needed with the work 801 00:42:06.195 --> 00:42:07.525 that we do there ourselves. 802 00:42:08.065 --> 00:42:11.645 But I was wondering whether you guys are considering 803 00:42:11.795 --> 00:42:14.485 helping, uh, African states 804 00:42:14.585 --> 00:42:17.525 and government have a, a sort of a, 805 00:42:17.925 --> 00:42:22.645 a policy structure in place that will be able, in fact, 806 00:42:22.785 --> 00:42:25.685 to appreciate all the work that has been done 807 00:42:25.705 --> 00:42:27.045 to power Africa. 808 00:42:31.325 --> 00:42:34.605 W the, the Power Africa initiative more broadly 809 00:42:35.225 --> 00:42:37.885 is working quite closely, uh, directly with, 810 00:42:38.115 --> 00:42:40.765 with governments throughout the continent. 811 00:42:41.185 --> 00:42:44.005 Um, U-S-T-D-A doesn't tend to engage directly 812 00:42:44.005 --> 00:42:46.165 with governments, although we do, 813 00:42:46.385 --> 00:42:50.365 and in fact, we work with governments from time to time as, 814 00:42:50.585 --> 00:42:51.765 uh, as grantees. 815 00:42:51.985 --> 00:42:56.765 Um, in Kenya, for example, um, the, uh, 816 00:42:57.005 --> 00:43:00.125 KPCL, um, excuse me, if I have the acronym incorrectly, 817 00:43:00.125 --> 00:43:01.445 maybe someone in the room can correct me. 818 00:43:01.445 --> 00:43:04.285 But the, the utility in Kenya, um, is, is 819 00:43:04.335 --> 00:43:05.365 among our grantees. 820 00:43:05.695 --> 00:43:09.365 We're developing a, a small solar power project, um, 821 00:43:09.715 --> 00:43:11.965 with the government of Kenya directly, 822 00:43:13.065 --> 00:43:17.285 but the larger Power Africa initiative is much more engaged 823 00:43:17.515 --> 00:43:20.325 with, um, host country governments. 824 00:43:20.865 --> 00:43:25.165 Um, for example, uh, U-S-A-I-D, uh, the 825 00:43:25.905 --> 00:43:28.205 key implementing agency of Power Africa. 826 00:43:28.945 --> 00:43:31.925 Um, that's the, uh, US Agency for International Development. 827 00:43:32.265 --> 00:43:35.805 Um, they have a, a whole network of advisors 828 00:43:36.065 --> 00:43:39.485 who are embedded, uh, within key ministries, um, 829 00:43:39.585 --> 00:43:41.565 in several countries. 830 00:43:42.225 --> 00:43:45.365 Um, and, and they are probably in the best position to be, 831 00:43:45.585 --> 00:43:49.485 uh, describing the, the value of the work that we're doing. 832 00:43:51.055 --> 00:43:54.485 Which the good news is that I, I believe is, is, is widely, 833 00:43:54.785 --> 00:43:55.805 um, AC accepted. 834 00:43:56.045 --> 00:43:59.125 I, I believe that, um, the, the countries where, uh, 835 00:43:59.515 --> 00:44:00.605 both us TDA 836 00:44:00.605 --> 00:44:02.765 and the broader Power Africa initiative are most active, 837 00:44:03.145 --> 00:44:06.205 are quite receptive to the work that we're doing, um, aware 838 00:44:06.205 --> 00:44:08.845 of its value and eager to continue to engage 839 00:44:08.845 --> 00:44:12.185 with us. Sir, 840 00:44:13.045 --> 00:44:15.425 I'm related to a university in the capital city 841 00:44:15.425 --> 00:44:17.345 of Burundi, bbo. 842 00:44:18.305 --> 00:44:20.785 I wonder what your attitude is toward the more troubled 843 00:44:20.785 --> 00:44:24.345 parts of Eastern Congo and countries like Burundi. 844 00:44:24.695 --> 00:44:25.905 Yeah, I, I had a, a, 845 00:44:26.105 --> 00:44:27.745 a compelling conversation earlier this 846 00:44:27.745 --> 00:44:28.945 morning about the DRC. 847 00:44:29.365 --> 00:44:32.645 Um, unfortunately there are, uh, there are, 848 00:44:32.645 --> 00:44:34.645 there are some marketplaces where it's very difficult 849 00:44:34.645 --> 00:44:35.925 for us to, to do business. 850 00:44:36.105 --> 00:44:39.845 Um, DRC and for the time being Burundi are, are among them. 851 00:44:40.425 --> 00:44:44.565 Um, the, the simple problem being that, uh, it seems to us 852 00:44:44.635 --> 00:44:49.045 that it is, uh, that the financial community regards, uh, 853 00:44:49.115 --> 00:44:53.565 Burundi as, as a very problematic place to extend capital, 854 00:44:53.665 --> 00:44:55.645 to extend debt, um, in particular. 855 00:44:56.185 --> 00:44:59.445 And, um, as a result of that, it's, it's viewed as, 856 00:44:59.505 --> 00:45:02.445 as much more, certainly much more risky. 857 00:45:02.945 --> 00:45:06.125 Um, as that's a situation we continue to monitor. 858 00:45:06.365 --> 00:45:09.645 I would love an excuse to work in, uh, Burundi's, uh, 859 00:45:09.645 --> 00:45:11.845 particularly their, uh, small hydropower marketplace. 860 00:45:11.845 --> 00:45:14.565 There's an enormous amount of opportunity there, um, 861 00:45:14.625 --> 00:45:16.885 to build out capacity to extend access. 862 00:45:17.145 --> 00:45:18.805 Uh, but for the time being, we can't, 863 00:45:18.825 --> 00:45:19.845 uh, we can't work there. 864 00:45:20.065 --> 00:45:23.005 Um, other countries in that category would include, uh, 865 00:45:23.165 --> 00:45:24.805 Zimbabwe, um, 866 00:45:26.065 --> 00:45:29.685 and the, uh, other usual suspects of Eritrea, um, 867 00:45:30.025 --> 00:45:31.365 and, uh, South Sudan. 868 00:45:34.345 --> 00:45:36.205 Um, I, I think one more question 869 00:45:36.425 --> 00:45:38.365 and then we'll have to move on if 870 00:45:38.365 --> 00:45:39.405 in fact there is another question. 871 00:45:43.865 --> 00:45:46.205 No more questions. Okay. Well, thank you very much.