The OPIC Blog

Archive for September, 2011

Hot springs tapped for geothermal energy in a Kenyan national park

Hell’s Gate National Park in Kenya, named for its hot springs and volcanoes, is also the site of a geothermal power plant. On September 22, OPIC approved up to $310 million in financing to the plant’s operator to support an expansion that will double operating capacity and add clean energy to the country’s electricity grid. The loan, to OrPower 4 Inc. Read more…

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TPL Properties: Building on a “mutual economic interest”

“Karachi is a city of 18 million people, but it has almost no commercial real estate,” Ali Jameel, CEO of TPL Properties said at a September 26 signing ceremony for OPIC’s $20 million loan TPL to finance the completion of a 28-story office building. Jameel said that a lack of infrastructure is one of the biggest problems that Pakistan faces Read more…

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New report looks at role of OPIC and other IFIs in creating jobs, reducing poverty

A new report finds that international finance institutions such as the Overseas Private Investment Corp. play a key role in addressing a range of developmental challenges from reducing poverty and creating jobs to improving food security and mitigating climate change. The report, International Finance Institutions and Development through the Private Sector, was produced by OPIC and 30 other international finance Read more…

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OPIC President Elizabeth Littlefield’s statement on the American Jobs Act

Last night, President Obama unveiled the American Jobs Act, a collection of bipartisan strategies that will put more Americans back to work, in part by providing incentives for small businesses to hire and grow.  I applaud this move, which will accelerate the growth of the U.S. economy, and help us weather some of the economic headwinds we’ve encountered in recent Read more…

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Project Snapshot: Renewable energy in India’s rice belt

Site India Sector Renewable energy Challenge More than one billion residents of India have no electricity and many of them live in remote villages off the electricity grid. Solution $750,000 in debt financing for Husk Power Systems Inc. to cover the installation throughout rural India of 36 “mini energy generation facilities” that burn discarded rice husks to generate electricity. Impact Read more…

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Business as a force for good in the developing world

“There is growing optimism about business as a force for good in the developing world,” OPIC President Elizabeth Littlefield writes in the current issue of Innovations. “A new momentum is building along with this around a breed of private investor that aims to solve social and environmental problems while making a financial return – impact investors.” MIT Press, publisher of Read more…

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