Energy for growth on the African continent – Todd Moss
In Pursuit of Development
Making Large Projects Bankable
Todd stresses credible offtakers, guarantees, and utility creditworthiness as key to financing big power projects.
Electricity is often treated as a basic development milestone. But in large parts of the African continent, the deeper challenge is not only connecting people to the grid, but ensuring power is affordable and reliable enough to support jobs, industrialization, and economic transformation. This episode explores what energy poverty really means, why progress is uneven across regions, and what it would take to move from “first access” to true “energy for growth.”
Todd Moss is founder and executive director of the Energy for Growth Hub. He is a widely recognized expert on energy, development finance, and foreign policy and writes the popular Substack Eat More Electrons. Todd previously served as U.S. Deputy Assistant Secretary of State for African Affairs.
The conversation begins with a critical distinction: electricity “access” can mask a much larger problem of unreliable supply. Todd argues that billions of people live with power that exists on paper but fails in practice as outages, high tariffs, and weak grids erode the benefits electrification is supposed to deliver. From there, Todd and Dan unpack the persistent tension between household electrification and powering firms. Dan raises the moral and political case for universal household access, while Todd makes the argument that job creation requires a different kind of electricity (dense, dependable, and scaled for industry) alongside the off-grid solutions that can improve welfare quickly.
They then turn to policy and investment. Why do so many countries remain stuck with utilities that are not creditworthy? What makes large generation projects “bankable,” and why do credible offtakers and guarantees matter so much? Todd explains how renewed global interest in critical minerals could become an anchor for bigger energy systems, especially if governments negotiate strategically and use mining and processing to unlock broader infrastructure that supports non-mining sectors too.
The episode also widens out to geopolitics and development finance, including what is changing in Washington and what new tools (particularly U.S. development finance) might mean for energy investment going forward. Finally, Dan and Todd tackle nuclear power: why it remains controversial, why new small modular designs are changing the conversation, and what the long-term geopolitical risks look like when nuclear fuel and technology can tie countries into decades-long dependencies.
Resources:
- Eat More Electrons Substack
- Energy for Growth Hub website
- Global Market for Advanced Nuclear Map
- Who in Africa is Ready for Nuclear Power?
- PPA Watch
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