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Angola receives significant support for solar energy development

The projects are expected to support around 1.600 jobs. (Image source: Adobe Stock)

The Export-Import Bank of the United States (EXIM) has approved a direct loan for more than US$900mn to the Ministry of Energy and Water of the Republic of Angola to support the construction of two photovoltaic solar energy power plants

Expected to generate more than 500MW of renewable power, the projects will provide access to clean energy resources across the country and help Angola meet its climate commitments. It is estimated the transaction will support around 1,600 jobs and aid exports of US solar panel mounting systems, connectors, switches, sensors and other equipment. 

EXIM president and chair Reta Jo Lewis, commented, “We are proud to take part in this important project, which will increase access to electricity in Angolan communities using clean energy technology.

"This transaction not only aligns with President Biden’s PGII initiative, but also advances EXIM’s efforts to promote clean energy exports, strengthen the U.S.-Africa commercial relationship and support U.S. exporters and American workers facing foreign competition.”

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