OPIC to finance Redstone CSP project in South Africa

California-based SolarReserve, alongside co-sponsor and lead developer ACWA Power, will use an OPIC Investment guaranty to help construct and operate the facility.

OPIC says its financing supports the agency's key role in President Barack Obama's Power Africa initiative, which aims to address critical power access needs across sub-Saharan AFrica.

SolarReserve's development of the project also helps fulfill the South African government's renewable energy goals.

OPIC