Miami Firm SunAfrica Awarded Deal of the Year at Export-Import Bank of the United States 2023 Annual Conference
WASHINGTON, DC – The Export-Import Bank of the United States (EXIM) awarded SunAfrica with Deal of the Year at its 2023 Annual Conference in recognition of the impact they have had on supporting American jobs through exports.
Located in Miami, FL, SunAfrica is a solar project developer that delivers competitive, sustainable renewable energy solutions. With numerous projects in the works, SunAfrica is at the center of Africa’s push to meet growing energy needs sustainably. Winning the award alongside SunAfrica are the Ministry of Finance of the Republic of Angola who will be represented by Ambassador Extraordinary and Plenipotentiary of Angola to the U.S., H.E. Agostinho Van-Dúnem, Luanda, Angola-based OMATAPALO, and ING Capital LLC.
On June 1, 2023, the EXIM Board of Directors approved a $907 million transaction, the largest in EXIM’s history, that will support the construction of two solar energy power plants in the Republic of Angola. This project – with SunAfrica as project developer – will generate more than 500 megawatts of renewable power and provide access to clean energy resources across Angola. It will support the exports of U.S. solar panels and other equipment as well as 1,600 jobs. The project -- initially announced during the 2022 G7 Summit -- advances President Biden’s flagship Partnership for Global Infrastructure and Investment (PGII), which aims to advance digital and energy infrastructure worldwide.
“I am very proud to announce SunAfrica as EXIM’s Deal of the Year,” said EXIM President and Chair Reta Jo Lewis. “This deal is not only historic as the largest renewable energy transaction EXIM has authorized to date, but also supports the Biden-Harris Administration’s Partnership for Global Infrastructure and Investment priorities to advance clean energy technology and key infrastructure projects around the world. We are proud to play a role in financing this important project to meet our mandate of supporting U.S. exporters and American workers.”
“This recognition stands as a testament to the power of collaboration between the U.S. government and private sector companies, particularly with respect to giving U.S. small businesses a fighting chance to compete against foreign competitors active in the energy development sector, said SunAfrica CEO Adam Cortese. “We would like to extend our heartfelt appreciation to all those who contributed to this achievement, including the EXIM Bank deal team and the Biden-Harris Administration, which has supported this project under the mantle of President Biden’s Partnership for Global Infrastructure and Investment, and we look forward to continuing our positive experience of working with the EXIM Bank team on future projects as well.”
"ING is delighted to partner with EXIM and arrange their largest solar energy project financing and first-ever project in sub-Saharan Africa,” said Gemma Bae, Managing Director and Head of SEF Americas for ING Capital. “At ING, we aim to put sustainability at the heart of what we do, and as a financial intermediary, we know we have an important role to play in tackling climate change through what we finance. That's why we're pleased to have EXIM join ING on our journey as we work with clients to meet their climate goals."
“OMATAPALO has had a very positive experience working with EXIM Bank in its bid to support critical development needs in Angola’s energy sector in an affordable and sustainable manner,” said Pedro Santos, OMATAPALO Chairman and CEO. “With EXIM’s support, OMATAPALO will execute the Angolan government’s objective of increasing these basic services to millions of its citizens. We are proud to play a role in this important project and honored that it has been recognized as EXIM’s Deal of the Year.”
ABOUT EXIM BANK:
EXIM Bank an independent federal agency that provides competitive and necessary export credit to overseas purchasers of U.S. exports to promote and support American jobs. A robust and fully functioning EXIM Bank can assist the United States in leveling the global playing field for U.S. exporters when they compete against foreign companies that receive the support of their national export credit agencies. EXIM also contributes to U.S. economic growth and the support of more than a million jobs through the support of thousands of small and medium-sized enterprises (SMEs) around the country. Since 2000, EXIM Bank has provided $14.6 billion to the U.S. Treasury after paying for all of its administrative and program expenses.
For more information about EXIM, please visit www.exim.gov.