Update: US Ex-Im to back South African renewables push

The deal was signed during a visit by US Secretary of State Hillary Clinton.

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By Andrew Lee London

 Tuesday, August 07 2012

Updated: Sunday, November 25 2012

The Export-Import Bank of the US (Ex-Im) will extend up to $2bn in finance support for South Africa’s energy sector, with an emphasis on clean-energy and renewables.

Ex-Im – which offers finance to projects that benefit US exports – will offer the loans after singing a deal with South Africa's Industrial Development Corporation.

The agreement was finalised yesterday during a visit to South Africa by US Secretary of State Hillary Clinton.

The US body has deemed South Africa one of its nine key global markets for American exporters.

South Africa is racing to build a renewable energy base as it battles to expand its generating capacity and lessen its reliance on coal.

It has already allocated 2.5GW of contracts via two renewable Log in to read complete article.

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