US Ex-Im bank to help finance US$2B worth of US technologies to South Africa energy sector

Facebook
Twitter
LinkedIn
Reddit
Email

The US Export-Import bank signed a declaration of intent (DOI) with the Industrial Development Corporation of South Africa. The DOI aims to progress the South African government’s Integrated Resource Plan and the South African Renewable Initiative. The agreement will see the Ex-Im bank provide financing up to US$2 billion worth of US technologies, products and services to South Africa’s energy sector, with a focus on clean-energy development.

The DOI was signed by Fred Hochberg, Ex-Im Bank chairman and president, Geoffrey Quena, CEO of the IDC and Gert Gouws, CFO of the IDC. The agreement was signed during the South Africa-United States Strategic Dialogue, which was hosted by US Secretary of State Hillary Clinton.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

“South Africa is a dynamic market that offers enormous opportunities for American companies,” said chairman Hochberg. “This agreement will help ensure that Ex-Im bank continues to provide financing to South African buyers that want to buy high-quality US goods and services. This partnership will help create jobs and lasting economic opportunities for both our countries.”

Read Next

February 11, 2025
Located in the solar hotbed region of Atacama in northern Chile, the Domeyko project will have an 83MW solar PV capacity and 660MWh battery energy storage system (BESS) capacity.
February 11, 2025
US technology giant Microsoft has signed virtual power purchase agreements (VPPAs) for 389MW of solar capacity with EDP Renewables.
Premium
February 11, 2025
PV Tech Premium spoke with Alexia Ruvoletto, former head of the Solar Stewardship Initiative, about its supply traceability standard.
February 11, 2025
Auction prices awarded ranged from €0.0388/kWh to €0.0495/kWh, with an average volume-weighted price awarded at €0.0476/kWh.
February 11, 2025
The US solar industry was previously sanguine about Trump's initial tariffs, though the impacts of these metal tariffs are unclear.
February 11, 2025
New manufacturing capacity additions from Gautam Solar and Waaree, alongside Indian solar deployments crossing the 100GW threshold.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 17, 2025
London, UK
Solar Media Events
February 19, 2025
Tokyo, Japan
Solar Media Events
March 11, 2025
Frankfurt, Germany