Florida, US based utility scale solar project developer Sun Africa says its 728 MW Angola solar project has been selected as one of the flagship projects under G7 backed Partnership for Global Infrastructure and Investment (PGII).
A sister company of US based UGT Renewables, Sun Africa plans to deploy 728 MW of utility scale solar PV, solar mini-grids with battery storage, home power kits and potable water in 4 southern provinces of Angola. Sun Africa says it is the company's 2nd large scale solar project in the African nation. It has signed a contract with the Angola government to develop the project in 4 provinces of Southern Angola.
Worth $2 billion, the project is backed by the Export-Import Bank of the United States, the US Department of Commerce and the Department of State, and will support electrification of more than 2 million people.
For the Sun Africa project that it will execute in collaboration with US based AfricaGlobal Schaffer, the White House said, "In addition to supporting up to $1.3 billion in U.S. exports, the project will help Angola meet their climate commitments, including generating 70% carbon-free power by 2025."
Launched at the G7 Leaders' Summit in June 2022, PGII is aimed at mobilizing private investment for quality, sustainable infrastructure, strengthen and diversify supply chains, create new opportunities for American workers, and businesses, while advancing the national security of the US, stated the White House.
For the initiative, the US government targets to raise $200 billion over the next 5 years through grants, federal financing and leveraging private sector investments, and along with G7 partners, PGII will mobilize $600 billion by 2027 for global infrastructure investments.
"And this will only be the beginning. The United States and its G7 partners will seek to mobilize additional capital from other like-minded partners, multilateral development banks, development finance institutions, sovereign wealth funds, and more," added the White House.