Lobito, Angola, Sept. 26, 2024 (Lusa) - US multinational Sun Africa is to benefit from financing of US$1.6 billion from the Export-Import Bank of the United States (EXIM Bank) for solar energy projects in southern Angola.
According to Sun Africa's representative, Eguinilson da Silva, the investment amount (US$1.6 billion, around €1.4 billion) was announced on Wednesday in Lobito, Benguela province, during the Conference on Coordination of Support for the Lobito Corridor, a railway project linking Angola to the mining areas of the Democratic Republic of Congo (DRCongo) and Zambia.
"During the conference it was possible to confirm the approval of funding of more than US$1 billion for the southern projects, which Sun Africa is engaged in and committed to developing in partnership, for the benefit of the Angolan population and the strategies of the executive," the Sun Africa representative told Lusa.
Eguinilson da Silva said that this project will benefit more than 65 communities in the south of the country, with an installed capacity to generate 220 megawatts of clean energy.
The project also has a water supply component, which will benefit more than 448 locations, he added.
According to the Sun Africa representative, the project has taken battery storage into account for its sustainability at night, "when there will be no sunlight".
"Most of the funding will be allocated to the implementation of the project, which will benefit this entire community of more than 1.5 million people," he said.
During the conference, Sun Africa took the opportunity to share its experience and commitment to the Angolan government's plans and strategies for increasing the country's electrification and access to electricity through clean energies.
For the Lobito Corridor, he added, Sun Africa has already started to develop a project, which is at an embryonic stage, "but very advanced", having already identified more than 250 locations that will be able to benefit from access to electricity through clean energy, as well as access to treated water, through catchment and purification.
Aguinilson da Silva said that the locations covered were in the provinces of Benguela, Bié, Huambo and Moxico.
Present in Angola since 2018, Sun Africa is developing its projects essentially with its own funds, but it also has partnerships, and he believes that there are prospects for future investments, because the US is very interested in the geostrategic partnership with Angola.
"That's why it's one of the first investments in this area of renewable energies, but there are many others to come, which are in the interest of Eximbank," he emphasised.
In Angola, Sun Africa is developing the ‘Angola Solar Project’, the largest renewable energy project in sub-Saharan Africa, which produces 370 megawatts of renewable energy and prevents the emission of 935,953 tonnes of carbon per year, he said.
NME/AYLS // AYLS
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