The United States is supporting Angola’s transition from an oil-dependent economy to a hub for critical minerals processing and clean power exportation, according to a senior US official.
“Angola and the United States are aligned on all the major points related to energy access, energy security, decarbonization, and critical minerals,” stated US Assistant Secretary of State for Energy Resources Geoffrey Pyatt during an online media briefing on Tuesday.
Angola, a leading crude oil producer in Africa, has become a focal point for the US in its strategic efforts to secure critical minerals such as copper, amid competition with China.
The US Export-Import Bank has allocated billions of dollars to clean energy projects in Angola, which aims to sell surplus electricity throughout the region.
Pyatt recently visited Luanda, Angola’s capital, where he met with the country’s oil and energy ministers. They discussed the development of transmission and grid interconnection infrastructure, which is essential for Angola to expand its energy exports across sub-Saharan Africa.
The Export-Import Bank finalized a $900 million loan for solar farms in Angola, developed by US company Sun Africa, which is committed to using non-Chinese components.
Additionally, the bank’s board has notified Congress about a $1.6 billion project with the same developer to build mini-grids and clean water projects nationwide.
Angola is also keen on developing downstream processing infrastructure for critical minerals. Pyatt mentioned that the US-backed Minerals Security Partnership Forum brings together producers and customers to explore potential financing opportunities from the US, the European Union, and other partners to support such initiatives.
