The Board of Directors of the Export-Import Bank of the United States (EXIM) approved a historic $1.6 billion direct loan to support the construction of 65 solar photovoltaic energy mini-grids with energy storage facilities that will power water collection, treatment, and purification systems in four southern provinces in Angola. The project will increase access to electricity and potable drinking water in several provinces in Angola that previously had little access and will promote improved health, education, and social wellbeing. The transaction, involving ING Capital, Sun Africa, and Omatapalo is estimated to support 3,100 U.S. jobs.
“We are deeply proud to approve this project, which will advance access to clean energy and potable water in key regions in Angola,” said EXIM President and Chair Reta Jo Lewis. “Today’s approval underscores our firm commitment to championing renewable energy projects, supporting U.S. exporters doing business in sub-Saharan Africa, deepening our economic relationship with Angola, and advancing President Biden’s Partnership for Global Infrastructure (PGI) initiative.”
The transaction approved today builds upon EXIM’s recent historic work in Angola and advances the Biden-Harris Administration’s PGI initiative, a collaborative effort by U.S. government agencies to support sustainable, clean, resilient, and inclusive infrastructure projects around the world. The project also supports EXIM’s mandate to support renewable energy projects. The transaction also falls under EXIM’s China and Transformational Exports Program (CTEP), a congressionally mandated program to support U.S. exporters facing foreign competition from China.