pan>)--The Board of Directors from the Overseas Private Investment Organization
(OPIC), the U.S. Health systems development finance institution, accepted
up to $250 million for the agencys first solar power project in South
Africa, a 60-megawatt plant that can help diversify the countrys
electric power generation beyond its major coal concentration and in a
process displace approximately 140,1,000 tons of greenhouse gas wastes
in its first year alone.
“Had been pleased to work with an experienced
construtor such SunEdison to deliver so many developing benefits for
South Africa, in the reduction of pollution and displacement of GHG
emissions to the creation of neighborhood jobs and the realization of the
countrys BEE program goals.”
A project came about in response on the new Renewable Energy
Independent Power Producer Program (REIPP), a Southern region African government
initiative that aims to increase investment in renewable energy
production, especially solar power, which has a goal of having 3725MW online
by simply 2016. By involving two local firms as co-sponsors along with its U,supra tk society purple.S.
investors, the undertaking will also help South Africa satisfy the Black
Economic Empowerment (BEE) plans of the program.
The OPIC loans will enable two Ough.S. companies, MEMC Electronic
Elements and its subsidiary SunEdison, to construct as well as operate a solar
photovoltaic grow in Boshoff in South Africas No cost State province. All
electrical power generated by the plant might be sold to the national metered
through a power-purchase agreement.
Coal-fired plants at the moment produce 84 percent associated with South Africas
electrical generation volume. SunEdison estimates that in the initial
year alone approximately 140,000 tons of greenhouse gasoline emissions will
be homeless because of the project.
South Africas committed and impressive renewable energy system has
established the country for a leader in the field, said OPIC President
Elizabeth Littlefield. Were content to work with an experienced
developer these kinds of SunEdison to deliver so many developmental rewards for
South Africa, from the lowering of pollution and displacement of GHG
by-products to the creation of local work opportunities and the realization of the
nation's BEE program goals.
MEMC, based in St. Peters, Missouri, is a major world wide manufacturer of
PV wafers in addition to related products for the semiconductor as well as solar
industries. Through its SunEdison subsidiary acquired in 2009, MEMC is definitely
also a developer of solar panel technology projects and is a leading solar technology
services provider.
OPIC is the Ough.S. Governments development fund institution. It
mobilizes private investment to help solve critical advancement challenges
and in doing so, innovations U.S. foreign insurance plan. Because OPIC works
with the U.S. private sector,supra shoes for sale, it assists U.S. businesses obtain footholds in
emerging markets catalyzing business earnings, jobs and growth options both
at home and abroad. OPIC achieves its mission by providing
shareholders with financing, guarantees, politics risk insurance, and
support for private equity investment money.
Established as an agency on the U.S. Government inside 1971, OPIC
operates on a self-sustaining basis at no net cost so that you can American
taxpayers. OPIC services are for sale to new and expanding enterprise
enterprises in more than One hundred fifty countries worldwide. To date, OPIC has got
supported more than $200 billion of investment in over 4,000 projects,
generated an estimated $75 billion in U.S. exports and supported more
than 276,Thousand American jobs.
Information Supply: Business Wire
September 18th, 2012 @ 04:33pm
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