Secretary Blank Announces New U.S.-Africa Clean Energy Development and Finance Center
November 28, 2012
(OPIC)
USTDA, OPIC and Ex-Im Bank to Facilitate Clean Energy Projects in sub-Saharan
Africa through Newly-Established Center
JOHANNESBURG, SOUTH AFRICA – Acting Secretary of Commerce Rebecca Blank
announced the establishment of the U.S.-Africa Clean Energy Development and
Finance Center (Center) at a luncheon event co-hosted by Business Unity South
Africa and the Corporate Council on Africa. The Center is an initiative by the
U.S. Trade and Development Agency (USTDA), the Overseas Private Investment
Corporation (OPIC) and the Export-Import Bank of the United States (Ex-Im Bank)
to provide a coordinated approach to clean energy project development in
sub-Saharan Africa.
The Center will provide technical and financial support for clean energy project
development by providing the U.S. private sector, as well as sub-Saharan African
developers, with a centralized means to identify and access U.S. government
support for their clean energy export and investment needs. The Center will
also coordinate its resources with those of the U.S. private sector,
multilateral development banks, local development banks, private banks, and
private equity firms.
Participating in a panel session following Acting Secretary Blank’s
announcement, USTDA Regional Director for sub-Saharan Africa Paul Marin stated,
“The main goals of the Center are to facilitate the implementation of clean
energy projects in sub-Saharan Africa while opening this important market for
the sale of clean technology products and services from the United States.”
“OPIC has made significant efforts over the past three years to expand its work
in Africa and increase commitments to the renewable resources sector,” said
Peter Ballinger, OPIC Director for Business Development. “This partnership will
open the door to clean energy projects that would not occur otherwise, and
expand opportunities for US businesses while supporting energy security in the
region.”
"Consistent with the signing of the $2 billion Declaration of Intent between
Ex-Im Bank and IDC, Ex-Im Bank remains committed to South Africa. In supporting
South Africa's IRP and SARi by financing U.S. exports and technologies, Ex-Im
Bank is committed to the long term development of South Africa," said Ex-Im Bank
Director for African Strategic Initiatives Rick Angiuoni.
“Leveraging the resources of these U.S. government trade and development finance
agencies is an important component in increasing commercial engagement with
sub-Saharan Africa, as outlined in President Obama’s recently released
Presidential Policy Directive on Sub-Saharan Africa, including the Doing
Business in Africa Campaign,” said U.S. Ambassador to South Africa Donald Gips.
In addition, the Center will advance the objectives of the $20 million
U.S.-Africa Clean Energy Finance (US-ACEF) Initiative, announced earlier this
year by Secretary Clinton at Rio +20. The Initiative aims to align USTDA’s
project planning expertise and OPIC’s financing and risk mitigation tools in new
ways, to support private sector investment and increase support for U.S.
businesses and exporters in sub-Saharan Africa’s clean energy sector.
The Center was announced as part of a broader Doing Business in Africa Campaign
that aims to harness federal trade promotion and financing capabilities to help
U.S. businesses both identify and seize upon trade and investment opportunities,
furthering the United States’ commercial relationship with Africa.
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