PSLO Energy Mission to Washington DC

Energy company representatives from eight countries joined the 4th edition of the Private Sector Liaison Officers (PSLO) Energy Mission to Washington DC May 4-7, 2015, to meet with key energy experts at the World Bank Group (WBG), Inter-American Development Bank, Millennium Challenge Corporation, and USAID. Organized jointly by PSLO Network members from Austria, Canada, France, the Netherlands, Spain, and the United States, in collaboration with the WBG, the three-day conference provided a platform for the 90 private sector participants to engage with International Financial Institutions (IFIs) and gain insights in their respective energy sector priorities, portfolios, and business opportunities. By bringing together energy companies from several countries, the mission also provided a unique opportunity for networking among participants with a view to collaboration and potential partnerships.

The WBG’s work in energy today is aimed at supporting developing countries to secure the affordable, reliable, and sustainable energy supply needed to end poverty and promote shared prosperity, as described in the Energy Sector Directions Paper. The paper is closely aligned with the UN’s Sustainable Energy for All (SE4All) Initiative, co-led by the World Bank, which aims to achieve universal access to modern energy, double the global rate of energy efficiency improvement, and double the share of renewable energy in the global energy mix by 2030. In providing an overview of the WBG priorities in the energy sector, Charles Feinstein, Director of the WBG Energy and Extractives Global Practice remarked, “We are moving in the right direction to make sustainable energy a reality for everyone by 2030, but we still have a lot of work to do to reach our goals.”

Global Leads for the WBG Energy and Extractives Global Practice provided participants with more detailed information on energy subsectors including Energy Access, Clean Energy, Hydropower, and Power Systems, which enabled companies to identify projects corresponding to their area of expertise.

The program also included sessions on project and corporate procurement by Procurement Specialist Nancy Bikondo, with an update on the new Procurement Framework, which aims to modernize WB procurement policy with regard to enhancing value for money, integrity, efficiency and sustainability in WB procurement. Karen Mathiasen, Senior Advisor to the US Executive Director, highlighted the importance of this new framework in her keynote on the role of the United States in IFIs. Bryan Gates of DNV GL asserted that the Energy Mission “gave a compelling picture of the activities in development and where the opportunities are for companies to add value to the development banks’ processes.” “The level of detail provided was very useful, especially for projects under preparation” added Julia Jeffrey of Siemens.

In light of the growing power needs in emerging economies, David Fulton and Sean Whittaker of the International Finance Corporation (IFC) provided an overview of business opportunities for investor companies in energy and highlighted the role of the private sector in driving new power investments, especially in renewables, and IFC’s commitment to building meaningful partnerships. “We have made some great contacts with a diversity of companies,” said David Fulton, “We are looking forward to the follow-up.” Federica Dal Bono of the Multilateral Investment Guarantee Agency (MIGA) explained how MIGA’s political risk insurance guarantees and umbrella of deterrence can bring added value to investors in the power sector.

Evening receptions for the delegation, hosted by the Austrian Embassy and the Canada-Africa Power Alliance (CAPA) provided additional opportunities for networking. Mission organizers agreed that the joint Energy Mission helped bring more visibility to the WBG and other IFIs than individual country delegations and also fostered greater opportunities for collaboration and exchange between international participants. Yves Muyange of CPCS and CAPA representative highlighted that “The Energy Mission allowed us to share our experience with the international community, strengthen our approach, and meet some key new partners from Europe and beyond.”