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The Board of Directors of the Export-Import Bank of the United States (EXIM) has approved today a financing of approximately USD 900 million to the Angolan Ministry of Energy and Water to support the construction of two photovoltaic power plants in Malanje (Laúca) and Ícolo-Bengo (Catete), projects that will be implemented by SUN AFRICA and OMATAPALO.
The construction works for the two power plants, which together will comprise around 840,000 photovoltaic panels with a total installed capacity of 500 MW, will begin next month in July, contributing to the creation of approximately 1,600 direct and indirect jobs, mostly held by nationals. The Catete power plant (104 MW) is expected to be completed in 2025, and the Laúca power plant (400 MW) in 2026, with an estimated lifespan of about 25 years.
These projects, which had been formally announced on the sidelines of the G7 Summit in 2022 by President João Lourenço, will enable Angola to enhance access to clean energy sources, helping the country meet its climate and energy commitments under Angola 2025, while also supporting exports of solar panels, connectors, switches, sensors, and other equipment from the United States.
The Laúca photovoltaic plant, located near the dam, will generate energy during the day, thus conserving water resources for nighttime production. In Catete, the power plant will reinforce electricity production, supporting the communities and the growth of the industrial sector in the region.
“We are proud to participate in this important project, which will increase access to electricity in Angolan communities using clean energy technology,” said EXIM President and Chairman, Reta Jo Lewis, in a statement from the institution.
EXIM’s financing for these projects is aligned with President Biden’s Partnership for Global Infrastructure and Investment (PGII), aimed at promoting the development of digital and energy infrastructure worldwide, and falls under EXIM’s China Transformational Exports Program (CTEP), a congressional initiative to support U.S. exporters facing foreign competition from China.
“Environmental protection and improving Angolans’ access to energy sources, especially renewable ones, are central issues today, to which OMATAPALO wishes to continue contributing, simultaneously providing support for the development of critical infrastructure such as roads, schools, and hospitals in the areas where we operate, as well as the training of local populations,” said Carlos Alves, Chairman of the Board of Directors of OMATAPALO.
