The OPIC Blog

Archive for March, 2014

OPIC supported San Andres Solar Plant named Project Finance International’s Latin American Solar Deal of the Year

Last year, OPIC provided financing to SunEdison to construct one of the largest solar power facilities in the world, a photovoltaic plant in San Andres, Chile. As a mark of its innovation and scope, the project recently received an award from Project Finance International, which named SunEdison’s San Andres facility the Latin American Solar Deal of the Year for 2013. Read more…

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Featured photo: OPIC’s Alemayehou testifies at Senate Hearing on Power Africa’s progress

Judith Pryor, Vice President of OPIC’s Office of External Affairs, left, and Mimi Alemayehou, OPIC’s Executive Vice President, share a laugh before Alemayehou’s March 27 testimony on the progress of President Obama’s Power Africa initiative. Alemayehou testified before the U.S. Senate Foreign Relations Committee, and outlined how private-sector investment could help achieve the President’s goal of doubling the number of Read more…

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“My unique connection to Power Africa:” OPIC’s Alemayehou featured in USAID newsletter

In the summer of 2013, President Obama announced the Power Africa initiative, designed to help African countries responsibly develop extensive energy resources with the aid of private sector investors. OPIC committed up to $1.5 billion in financing to support this endeavor, in keeping with the agency’s longstanding history of supporting projects in Sub-Saharan Africa. OPIC Executive Vice President Mimi Alemayehou, Read more…

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Spotlight on OPIC Impact Award winners: Helios Investment Partners

In addition to the direct financing OPIC provides to many projects in emerging markets, the Agency also supports development by providing financing to privately-owned and managed equity funds investing in emerging markets. These funds serve multiple roles from providing capital to up-and-coming companies and guiding strategic decisions in rapidly changing markets to advising on best practices in management and information Read more…

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Spotlight on OPIC Impact Award winners: International Rescue Committee

While OPIC frequently works with private sector businesses that use OPIC financing or political risk insurance to support their operations in emerging economies, the Agency also supports the work of nonprofit organizations and NGOs. On March 11, OPIC honored one of its NGO clients, the International Rescue Committee (IRC) with its Impact Award in the Development Impact category. IRC uses Read more…

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OPIC seeks to support American investors in Malawi

By Elizabeth Littlefield President and CEO, Overseas Private Investment Corporation President Obama asked me a year ago to travel to Malawi to explore opportunities to support private sector investment in this country that is brimming with resources and promise but has not yet captured the level of investor interest that some neighboring countries … from Rwanda to Tanzania … are now enjoying. Having recently Read more…

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Featured photo: Ellicott Dredges, winner of OPIC’s Impact Award for American Small Business

Dredging equipment made in the U.S. by OPIC client Ellicott Dredges LLC is shipped overseas. Ellicott sells its equipment in countries around the world, including Iraq, where it is used to help improve flood control and restore hydroelectric dams. The company, which uses OPIC political risk insurance to support these equipment sales, last week was awarded OPIC’s Impact Award in Read more…

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OPIC board approves six deals in sectors from renewable resources to small business lending

OPIC’s Board of Directors approved commitments of OPIC support to the following projects at its March 20 meeting: Risk-sharing agreements to support Citi lending in developing countries. Two risk-sharing agreements designed to provide OPIC guarantee of loans made by Citibank to borrowers in OPIC-eligible countries around the world for both commercial lending and microfinance loans. OPIC’s guarantee limit through the Read more…

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Spotlight on OPIC Impact Award winners: Ellicott Dredges

Small businesses comprise the majority of all firms in the U.S. economy, and are powerful engines of job creation at home as well as drivers of development, innovative solutions, and economic efficiency in scores of developing nations. Small businesses can also face far tougher challengers than established multinationals when they do business abroad, so it is both fitting and instructive Read more…

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Spotlight on OPIC Impact Award winners: SunEdison

On a quiet plain in the rural center of South Africa sits a small town called Boshof. It’s far from the bustling cities of Cape Town and Johannesburg, and hundreds of miles from the dramatic, hilly coastline of the Cape of Good Hope. But Boshof, in the country’s underdeveloped Free State, is the site of a major project to generate Read more…

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