Powering Agriculture: An Energy Grand Challenge for Development supports the development and deployment of clean energy innovations that increase agriculture productivity and stimulate low carbon economic growth in the agriculture sector of developing countries to help end extreme poverty and extreme hunger.
Expanding access to clean energy in low-income countries is a key component of global development efforts to address energy poverty, food insecurity, and economic growth. Unfortunately, significant barriers exist that hinder the integration of clean energy technology in agriculture development. Likewise, clean energy enterprises seeking to serve these farmers face a number of barriers.
Powering Agriculture utilizes a cross sectoral nexus approach to concurrently focus on the energy and agricultural sectors while providing technical, business acceleration, financing and policy support to its innovators and other stakeholders.
The United States Agency for International Development (USAID), the Swedish International Development Cooperation Agency (Sida), the German Federal Ministry for Economic Cooperation and Development (BMZ), Duke Energy, and the Overseas Private Investment Corporation (OPIC)—collectively, the “Founding Partners”—have combined resources to fund Powering Agriculture.
Powering Agriculture is partnering with AlphaMundi and Factor[e] to form the Powering Agriculture Investment Alliance (Investment Alliance). The Investment Alliance will catalyze a minimum of $25 million in private sector finance for ventures with the potential to achieve transformational development impact in the clean energy/agriculture nexus.