OPIC’s work addressing critical development challenges is increasingly focused on bringing clean and sustainable energy to the developing world, including many regions that had no prior access to electricity. The share of OPIC’s portfolio devoted to renewable resources has grown dramatically in recent years. Today, OPIC’s finance and insurance commitments to renewable resources total more than $1 billion and will help avoid nearly 1 million short tons of CO2 emissions. Read more about what Sustainability means to OPIC.
OPIC supports projects in wind, solar, geothermal, hydropower, biomass and other sustainable sources of energy, which will reduce carbon emissions, improve access to electricity for remote populations and support economic growth. Other renewable resource projects support sustainable resource management, such as reducing deforestation.
OPIC’s commitment to renewable resources is supported by a range of finance and insurance projects. We offer financing for costly clean tech equipment, often with longer lending terms than may be available from banks, and financing for energy efficiency investments. OPIC has also tailored its political risk insurance products to support renewable resource projects in the developing world, and offers insurance against regulatory risks that could adversely affect investment in solar, wind, forestry, carbon credit and other clean energy projects.
“For a planet that is home to more than seven billion people, it is essential that growth and development follow a course that is clean and sustainable. We must make the most of our renewable resources and seek more efficient ways to energize the world.” -OPIC President and CEO Elizabeth Littlefield.
Read more about OPIC’s work in Renewable Resources:
African Clean Energy Financing
The African Clean Energy Financing (ACEF) program is focused on catalyzing private sector investment in clean energy projects in Africa by providing support for early stage project development costs. ACEF, a four-year program, was developed by OPIC, the U.S. Department of State, the U.S. Trade and Development Agency (USTDA), and the U.S. Agency for International Development (USAID).
Expanded access to natural resources and more efficient use of those resources must be twin priorities. We must do both
What has been seen for 20 or 30 years as largely an environmental issue is increasingly being recognized as an economic issue. Renewable energy: A seismic economic opportunity