February 21, 2014
By Judith Pryor Vice President, Office of External Affairs, Overseas Private Investment Corporation There is a popular satellite photo of the earth at nighttime that really captures the severity of Africa’s power shortages. While much of the rest of the world shines brightly, the African continent sits mostly in darkness. It is easy to look at that image and conclude
January 22, 2014
OPIC Vice President, Structured Finance, Michael Whalen wrote about Africa’s energy deficit in Project Finance International’s 2014 Yearbook, where he said that an improving investment climate and the U.S. Power Africa initiative have created momentum for increased electrification “after years of missed opportunities.” “For a long time global appetite for project finance in Africa was strongly concentrated in natural resource
September 20, 2013
The OPIC-supported Amman East Power Plant in Jordan was recently named one of the world’s top five gas-fired plants by Power Magazine. OPIC committed a $70 million loan to AES Corp. of Arlington, Virginia in 2007 to support construction of the plant, which was Jordan’s first independent power plant and has helped the country reduce reliance on imported energy. In
February 25, 2013
This week, OPIC’s President and CEO Elizabeth Littlefield will lead a delegation of OPIC representatives on a visit to Haiti to launch an important mortgage finance project developed in partnership with the U.S. Agency for International Development (USAID) and the Clinton Bush Haiti Fund. Development Innovations Group (DIG), a U.S.-based housing finance and urban development firm, will manage the project.
February 05, 2013
Last Thursday, outgoing Secretary of State Hillary Clinton announced a new OPIC partnership with GE to finance a clean cookstoves project in East Africa – one of a select series of public-private partnerships producing sustainable solutions to key global challenges that she chose to highlight during her final week in office. Developmentally, the project addresses one of the world’s most
May 31, 2012
In issuing our annual report for 2011, we also marked a milestone: 40 years of investing with impact across the developing world. Often we use this blog as an opportunity to talk about our new projects or our response to current global development challenges. But OPIC’s rich history also underscores how our development finance model endures in a world where the social, environmental
May 21, 2012
In this Q&A video, OPIC Vice President Mimi Alemayehou discusses the extensive growth opportunities in Africa, including the demand for energy and power as the continent continues to develop.
October 12, 2011
OPIC’s board recently approved $150 million in financing to expand the use of solar energy to power telecommunications towers in India. Applied Solar Technologies plans to use the financing to supplement the diesel-powered generators on the cellular towers with solar hybrid energy systems. Attached are some photos of the project.
July 12, 2011
Last month, OPIC approved nearly $500 million for five renewable resource private equity funds, easily surpassing a pledge OPIC President and CEO Elizabeth Littlefield made at the 2010 U.N. Climate Change Conference, to provide at least $300 million for private equity investment in renewables. The five funds, which were selected from 56 funds that responded to OPIC’s call for proposals,