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Export-Import Bank of the United States

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EXIM support the construction of two photovoltaic solar energy power plants in Angola

The US Exim Bank has approved a $900 million loan to the Angolan Ministry of Energy and Water. The financing is intended for the construction of two solar photovoltaic power plants with a combined capacity of 500 MWp. The project to build these two solar farms, announced on the sidelines of the G7 summit in 2022, is an initiative of the Angolan government, in partnership with the American companies AfricaGlobal Schaffer and Sun Africa. Sun Africa has pledged to invest $1.5 billion in Angola’s water and energy sectors from 2021. With an office already set up in the Angolan capital Luanda, Sun Africa aims to make these investments in the southern provinces of Cunene, Namibe, Cuando Cubango and Huíla. The Washington-based financial institution is also providing this financing as part of the China and Transformational Exports Program (CTEP), a programme mandated by the US Congress to support American exporters facing competition from China. And in the solar market, Chinese companies are leading the way, supplying equipment throughout Africa and elsewhere in the world. The largest solar power plants in operation, or currently under construction, notably in South Africa and Egypt, are equipped by Chinese manufacturers. This is the case of the Kom Ombo solar power plant, whose modules will be supplied by LONGi. When it comes to solar energy, China is by far the biggest market, with 174.8 GW of installed capacity in 2018, and supplies 60% to 70% of the world’s solar panels, according to the Futura-Sciences platform. Angola, which is banking on this energy to develop its economy, is 56% dependent on hydroelectricity (out of an installed capacity of 6,143 MW), according to Power Africa. https://energycapitalpower.com/exim-bank-approves-over-900m-for-angola-solar-energy-project/

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  • We Don't Have Time

    56 w

    Dear johnte ndeto Thank you for getting your climate love to level 2! We have reached out to Export-Import Bank of the United States and requested a response. I will keep you updated on any progress! /Ford We Don't Have Time

    1
    • Tabitha Kimani

      56 w

      Super collaborations towards clean and reliable energy.

      1
      • ance Star

        56 w

        We believe that the solar will bring more good

        1
        • Munene Mugambi

          56 w

          This goes to show that with will anything can be achieved.

          7
          • George Kariuki

            56 w

            This project showcases the commitment of the Angolan government to expand sustainable energy infrastructure.

            3
            • Joseph Githinji

              56 w

              Great strides in green energy transitioning road map.

              12
              • johnte ndeto

                57 w

                This will contribute to the reliability and decarbonization of the country’s grid network

                14
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