OPIC’s work catalyzing private-sector investment to solve critical world challenges is increasingly focused on the renewable resources sector, with projects that support clean and sustainable development.
On Dec. 2, OPIC will highlight its work in renewable resources at the COP 17, the United Nations Climate Change Conference in Durban, South Africa. OPIC President and CEO Elizabeth Littlefield and John Morton, OPIC Vice President, Office of Investment Policy, will highlight some recent deals supporting projects in wind, solar, geothermal, hydropower, biomass and other sustainable resources.
Below is an overview of some key projects:
Wind power in the Caribbean An OPIC small business loan is supporting the construction of a wind power facility on the island of St. Kitts, which will help the island reduce both its footprint and its fuel costs. Read more
Solar power in Peru OPIC is providing financing for the first two large-scale solar power plants in Peru, which will use solar technology developed in the U.S. Read more
Solar power in India OPIC is financing the expansion of solar-based energy systems by some of the country’s largest telecom tower operators which currently rely on diesel-generated fuel. Read more
Biomass in Liberia OPIC’s financing has enabled a biomass producer in Liberia to clear old rubber trees and use them to produce wood chips for export to Europe’s growing biomass power industry, and to plant seedlings to revive Liberia’s rubber industry. Read more
Biomass in India OPIC is providing financing to a startup company that developed a way to convert large volumes of discarded rice husks into fuel and is building a series of “mini energy generation facilities” throughout rural India. Read more
Hydropower in Georgia OPIC is financing the development of a hydropower plant in the Republic of Georgia, enabling the country to tap more of its abundant hydropower capacity – 82% of which is currently unused. Read more
Geothermal power in Kenya OPIC is financing the expansion of a geothermal power plant in Kenya, which will double the plant’s capacity, enabling it to deliver at least 5% of the country’s total power demand. Read more
Forest preservation in Cambodia An OPIC political risk insurance contract for a Reduced Emissions from Deforestation and Degradation (REDD) project will protect 64,318 hectares of forest in Cambodia. Read more
Agriculture in Africa As part of a deal to fund five new investment funds in the renewable resources sector, OPIC is providing up to $100 million in financing to the African Agriculture Fund which will focus on food production in Africa. Read more