Luanda – The Export-Import Bank of the United States of America (EXIMBANK) will provide a global financing (credit) of 907.4 million US dollars for the construction of two photovoltaic power plants in (Lauca) Malanje and (Catete) Luanda provinces.
According to a Presidential Decree 230/23 of September 29, of the total amount, 705.3 million US dollars will be used to finance solar energy infrastructure and roughly 202.1 million for expenses on risk exposure, ANGOP has learnt.
The money to be provided on loan by the EXIMBANK will be used for the construction work, which include the development and design of the engineering project, construction, supervision and operational tests of the Lauca and Catete photovoltaic power plants, with capacity to produce 400 Megawatt (MW) and 104 MW, respectively, the statement said.
According to the State Gazette, the agreement will be signed between Angola which will be represented by the Finance Ministry and the EXIMBANK as a creditor and the financial institution ING Capital LCC, as an agent for this bank.
The construction of the two photovoltaic power plants under the supervision of the Ministry of Energy and Water will be carried out by the Sun Africa LCC, Omatapalo Engineering and Omatapalo Inc, with a total amount of 753.8 million US dollars. QCB/AC/MRA/AMP
