U.S. Export-Import Bank to Give $2 Billion Loan to South Africa for Green Energy
The 18-year loans target solar, wind and thermal energy.
The U.S. Export-Import Bank inked a $2 billion clean-energy loan offer with South Africa to help fund the country's green-energy push and drum up sales for America's renewable industry, according to an announcement made last week.
The 18-year loans will target wind, solar and thermal power in particular, said Fred Hochberg, Ex-Im chairman and president. They could provide additional business to a host of clean-energy manufacturers, including California-based SolarReserve.
SolarReserve received a $737 million Department of Energy loan guarantee in 2011, and estimated to create 45 permanent jobs once construction is complete. The company's 110-megawatt solar plant will begin operations in late 2013.
Hide Comments (0)
Editor's Note: As of February 29, 2024, commenting privileges on reason.com posts are limited to Reason Plus subscribers. Past commenters are grandfathered in for a temporary period. Subscribe here to preserve your ability to comment. Your Reason Plus subscription also gives you an ad-free version of reason.com, along with full access to the digital edition and archives of Reason magazine. We request that comments be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of reason.com or Reason Foundation. We reserve the right to delete any comment and ban commenters for any reason at any time. Comments may only be edited within 5 minutes of posting. Report abuses.
Please
to post commentsMute this user?
Ban this user?
Un-ban this user?
Nuke this user?
Un-nuke this user?
Flag this comment?
Un-flag this comment?