EXIM has agreed to provide $900 million in funding to Angola's Ministry of Energy and Water for the deployment of a 500 MW of utility-scale PV capacity.
“This transaction not only aligns with President Biden’s PGII initiative, but also advances EXIM’s efforts to promote clean energy exports, strengthen the US-Africa commercial relationship and support U.S. exporters and American workers facing foreign competition,” said EXIM President Reta Jo Lewis.
The projects were initially announced during the G7 summit of 2022 by the government of Angola and the two developers, AfricaGlobal Schaffer and Sun Africa.
Popular content
According to the latest statistics from the International Renewable Energy Agency (IRENA), the African country had an installed PV capacity of 297 MW at the end of 2022.
By 2025, Angola hopes to reach an access rate of 65% and a total installed capacity of approximately 10 GW. Current installed capacity, however, is only 5.6 GW, although only 4.5 GW is available.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
1 comment
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.