American multinational Sun Africa has secured $1.6 billion in financing from the Export-Import Bank of the United States (EXIM Bank) for solar energy projects in southern Angola.
The announcement was made by Sun Africa representative Eguinilson da Silva during the Conference on the Coordination of Support for the Lobito Corridor, held in Lobito, Benguela province.
“During the conference, we confirmed the approval of over $1 billion for projects in the south, which Sun Africa is committed to developing in partnership to benefit the Angolan population and support the executive’s strategies,” Eguinilson da Silva told Lusa.
This initiative is expected to benefit more than 65 communities in southern Angola, with an installed capacity of 220 megawatts of clean energy. Additionally, the project includes a water supply component, which will serve over 448 locations.
Eguinilson da Silva emphasized that the project incorporates battery storage to ensure sustainability during nighttime, “when there is no sunlight.”
He noted that the majority of the funding will be directed toward project implementation, which will positively impact more than 1.5 million people.
During the conference, Sun Africa shared its experience and commitment to supporting the government’s plans to enhance electrification and access to clean energy in Angola.
For the Lobito Corridor project, the company has begun developing an advanced initiative, identifying over 250 locations that could gain access to electricity and treated water through collection and purification processes.
The identified locations span the provinces of Benguela, Bié, Huambo, and Moxico. Since its entry into Angola in 2018, Sun Africa has primarily funded its projects through its own resources, supplemented by partnerships.
The official expressed optimism for future investments, highlighting the strong U.S. interest in establishing a geostrategic partnership with Angola.
“This is one of the first investments in renewable energy in the region, with many more to follow, reflecting EXIM Bank’s interest,” he stated.
In Angola, Sun Africa is also developing the “Angola Solar Project,” which is set to become the largest renewable energy initiative in sub-Saharan Africa, producing 370 megawatts of renewable energy and preventing the emission of 935,953 tons of carbon annually.
