$400m debt financing for Northern Cape Redstone project
Author: Ashley Theron
On Tuesday, the Overseas Private Investment Corporation (OPIC) signed an agreement with US based energy developer SolarReserve and Saudi Arabia-based ACWA Power, acknowledging OPIC’s $400 million commitment of debt financing to support the development of the Redstone Concentrating Solar Power (CSP) project in Northern Cape, South Africa.
Elizabeth Littlefield, OPIC’s President and CEO commented: “The development of the Redstone project will benefit the South African people, the international clean energy sector, and the role of U.S. leadership in emerging market development.”
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