The Export-Import Bank (EXIM) – the official export credit agency of the United States — is providing a $1.6 billion direct loan to support the development of 65 solar mini-grids in Angola. The funding will be directed towards capital market company ING Capital, clean energy firm Sun Africa and construction company Omatapalo.
The solar infrastructure – all of which will be equipped with energy storage facilities — will be situated across four provinces in southern Angola. Providing an off-grid solution to remote communities, the projects aim to improve access to electricity as well as clean drinking water.
EXIM President and Chair Reta Jo Lewis stated that the loan “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 initiative.”
