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.