USTDA generates an average of $231 in U.S. exports for every dollar it programs. Since its inception, the Agency has supported more than $119 billion in U.S. exports to infrastructure projects in emerging economies, helping companies create good-paying jobs across the United States.
Arlington, VA – Today, the U.S. Trade and Development Agency and Investor Leadership Network (ILN) announced a new strategic partnership to help mobilize climate finance from ILN’s global coalition of institutional investors representing over $10 trillion in assets. Under the partnership, USTDA will use its project preparation tools to prepare projects in emerging economies for the financing consideration of ILN’s member organizations, which include some of the world’s leading asset owners and asset managers. This partnership will help increase the pipeline of bankable climate transactions in emerging economies.
“The goal of this partnership is transformational change,” said Enoh T. Ebong, USTDA’s Director. “It will help mobilize capital from institutional investors in a broader set of emerging economies, with the goal of supporting climate-aligned economic development and accelerating our efforts to ensure a livable planet. These are exactly the goals we are pursuing here at COP28.”
Under the partnership, USTDA will fund project preparation assistance to de-risk investments in emerging economies for priority clean energy and critical minerals projects that have estimated financing needs of at least $25 million each. Among other criteria, focus projects will also have strong potential for commercial viability, large-scale development impacts, and U.S. private sector interest. USTDA and ILN will coordinate their support for these projects through a dedicated Project Preparation Window.
Amy Hepburn, Chief Executive Officer, Investor Leadership Network, said, “Our ILN members are aligned on a shared vision where economic growth and a robust and sustainable global economy aligns seamlessly with environmental stewardship and social progress. Our partnership with USTDA is a critical and necessary step in helping us make our vision a reality through exemplary partnership and practical tools. We are grateful to be on this journey as we design the ‘art of the possible’ together.”
Within ILN, the initiative will be co-chaired by the Caisse de Dépôt et Placement du Québec (CDPQ) and Ninety One Limited.
Marc-André Blanchard, Executive Vice President and Head of CDPQ Global and Global Head of Sustainability & ILN Co-Chair said, “This strategic partnership between USTDA and ILN, focused on developing a pipeline of commercially viable projects in emerging markets, encapsulates the spirit of cooperation between the public and private sectors that is essential to bridge the climate financing gap.”
Nazmeera Moola, Chief Sustainability Officer at Ninety One said, “In order to increase institutional investor funding for projects in emerging markets, we need to improve the perception of risk. Well-structured projects are the first step to doing this. Therefore, this initiative that USTDA has facilitated is very valuable.”
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The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority infrastructure projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project preparation and partnership building activities that develop sustainable infrastructure and foster economic growth in partner countries.
MEDIA INQUIRIES: Paul Marin | (703) 875-4357
Arlington, VA – Today, the U.S. Trade and Development Agency announced funding for a feasibility study grant to REV-UP Solar Ventures Zambia (REV-UP) to support the development of a large-scale solar power project in Zambia’s North-Western Province. The project will supply clean, stable electricity to Zambian industry and households and has the potential to provide power for two critical mineral mines in the Democratic Republic of the Congo.
“This partnership with REV-UP Solar Ventures aims to generate clean, renewable power that will support the Zambian government’s goal for universal electricity access by 2030,” said Enoh T. Ebong, USTDA’s Director. “U.S. companies are well –positioned to provide technologies and other solutions for this project, which will enhance economic growth and improved quality of life for Zambians, while offering the potential to strengthen battery supply chains.”
The study will develop technical and financial recommendations to implement the power project, which will combine 200 megawatts of solar energy generation capacity with battery energy storage. Zambia currently faces a shortage of reliable electricity, due both to increasing demand and reduced hydropower generation caused by declines in precipitation linked to climate change. This is USTDA’s second battery energy storage project in Zambia, following a feasibility study and pilot project in Zambia’s Sesheke District signed earlier this year.
“REV-UP is thrilled and honored to have received the U.S. Trade and Development Agency’s generous support toward our development of the Mulonga Project in Solwezi Zambia,” said REV-UP’s Co-Managing Directors Brett Shere and Lubilo Mate. “This innovative project will provide reliable green energy to responsible Zambian and DRC copper and cobalt mines, helping to ensure that these minerals – which are so critical to the global clean energy transition – are produced via an energy mix and an ethos that is aligned with the renewable energy movement’s highest principles. We also seek to contribute to Zambia’s emergence as a hub for regional electricity export and as a leader in all of sub-Saharan Africa with regard to electricity sector creativity and innovation. We are honored to be cooperating with the Government of the Republic of Zambia and with USTDA on this project.”
USTDA’s feasibility study advances Power Africa, a U.S government-led initiative to increase energy access and end energy poverty in sub-Saharan Africa, the Partnership for Global Infrastructure and Investment (PGI)’s Lobito Corridor, and the U.S.-Zambia-DRC Tri-partite MOU to strengthen electric vehicle battery value chains in the region.
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The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority infrastructure projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project preparation and partnership building activities that develop sustainable infrastructure and foster economic growth in partner countries.
MEDIA INQUIRIES: Paul Marin | (703) 875-4357
Arlington, VA – Today, the U.S. Trade and Development Agency announced that it will host two reverse trade missions (RTMs) that bring delegations of oil and gas industry leaders from Nigeria and three Central Asian countries to the United States to familiarize them with U.S. technologies, services, and best practices in methane abatement that can help them meet their emissions reduction and energy security goals. USTDA Director Enoh T. Ebong made the announcement during the 28th Conference of the Parties (COP28) to the U.N. Framework Convention on Climate Change.
The RTMs will be held in 2024, comprising one delegation from Nigeria and a second from Kazakhstan, Turkmenistan, and Uzbekistan. While in the United States, the delegations are expected to travel to multiple cities to observe U.S. methane abatement solutions in action, while building related partnerships with U.S. financiers, suppliers, and regulatory and policy experts. These reverse trade missions will follow similar programming from 2023 for delegations from Latin America and North Africa.
Methane is a potent but short-lived greenhouse gas, and reducing methane emissions is widely agreed to be the fastest way to slow the pace of global warming. The oil and gas industry is a significant source of methane emissions globally, including through the venting or flaring of natural gas associated with oil extraction. The RTMs will explore solutions to reduce oil and gas sector methane emissions, including ways to capture these gases to transform waste into new resources. The delegations will also learn more about technologies for tracking and measurement, leak detection and repair, and other innovations.
These RTMs will advance the Global Methane Pledge for a 30% reduction of global methane emissions by 2030, building on a suite of announcements at COP28. With the announcement of these RTMs, USTDA has now approved funding to sponsor methane abatement RTMs for 16 countries.
In addition, these RTMs will support the Partnership for Global Infrastructure and Investment (PGI) and USTDA’s Global Partnership for Climate-Smart Infrastructure. The RTM with Nigeria aligns with and supports Nigeria’s participation in the Net Zero World Initiative, which leverages the expertise of U.S. government agencies to accelerate the decarbonization of global energy systems.
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The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority infrastructure projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project preparation and partnership building activities that develop sustainable infrastructure and foster economic growth in partner countries.
MEDIA INQUIRIES: Paul Marin | (703) 875-4357
Arlington, VA – This week, U.S. Trade and Development Agency Director Enoh T. Ebong will be in Dubai, United Arab Emirates, for the 28th Conference of the Parties (COP28) to the UN Framework Convention on Climate Change. While in Dubai, Director Ebong will announce USTDA’s latest commitments to climate infrastructure development in emerging economies, including a new global partnership dedicated to mobilizing institutional investor finance.
“Deploying high-quality, sustainable infrastructure solutions is absolutely essential for the world to address the climate crisis. USTDA’s work is designed to catalyze finance and partnerships that help bring projects from conception to construction,” said Enoh T. Ebong, USTDA’s Director. “U.S. industry offers highly innovative climate mitigation and adaptation technologies, and USTDA is committed to facilitating their deployment in ways that deliver for investors, partners, and the planet.”
New USTDA commitments will include a strategic partnership with the Investor Leadership Network to mobilize climate finance for priority clean energy and critical minerals projects in emerging economies. Other announcements include technical assistance funding for Egypt to develop a roadmap for significantly reducing methane emissions in its oil and gas sector, a feasibility study grant supporting a large-scale solar power plant and battery energy storage system in Zambia, programming to bring Nigerian and Central Asian delegations to the United States to learn about cutting-edge U.S. technologies and best practices for methane abatement, and other partnership-building activities. More information on these announcements is available in USTDA’s fact sheet.
These activities build upon USTDA’s robust climate and clean energy portfolio that, since April 2021, has included more than 80 activities designed to help unlock more than $70 billion in climate finance and support more than $18 billion in U.S. exports.
USTDA’s programming advances U.S. priorities including the Partnership for Global Infrastructure and Investment, the President’s Emergency Plan for Adaptation and Resilience (PREPARE), and the Global Methane Pledge.
Additional information on USTDA’s climate portfolio is available on our website. To follow COP28 activity from Director Ebong and the U.S. government, please sign up here.
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The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority infrastructure projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project preparation and partnership building activities that develop sustainable infrastructure and foster economic growth in partner countries.
MEDIA INQUIRIES: Paul Marin | (703) 875-4357
The U.S. Trade and Development Agency (USTDA) announced new initiatives and funding commitments at the 28th Conference of the Parties (COP28) to the UN Framework Convention on Climate Change in Dubai, United Arab Emirates, to help reduce global emissions and to foster climate resilience and enhance countries’ ability to adapt to climate impacts.
USTDA also announced that its Global Partnership for Climate-Smart Infrastructure, which President Biden launched in April 2021 to connect U.S. industry to major clean energy and transportation infrastructure projects in emerging economies, has now grown to more than 80 activities that are designed to help unlock more than $70 billion in climate finance and support more than $18 billion in U.S. exports. Earlier this year, USTDA announced that it had met and exceeded the Partnership’s three-year programming target within two years.
USTDA’s COP28 announcements include new efforts designed to:
MOBILIZE CLIMATE FINANCE
Institutional Investment for Emerging Economies: USTDA and the Investor Leadership Network (ILN) intend to sign a Strategic Partnership Agreement aimed at mobilizing climate finance from ILN’s global coalition of institutional investors, which manage over $10 trillion in assets. Under the Strategic Partnership, USTDA will support project preparation assistance in emerging economies for priority clean energy and critical minerals projects that are designed to catalyze institutional investment for climate-aligned financing. USTDA and ILN will coordinate their support for these projects through a dedicated Project Preparation Window.
Sub-Saharan Africa: USTDA will partner with the African Development Bank on a Green and Sustainable Financing Workshop that will take place in March 2024, in Abidjan, Côte d’Ivoire. The workshop will convene U.S. technical experts and key regional financial institutions to share insights on how to successfully source investment towards sustainable infrastructure projects. Discussions will also examine the enabling environment for green and sustainable financing across the African continent.
REDUCE METHANE EMISSIONS
Egypt: USTDA approved grant funding for technical assistance to support efforts by the Egyptian General Petroleum Corporation (EGPC) to reduce methane emissions in Egypt’s oil and gas industry. This assistance will advance Egypt’s efforts to meet its Global Methane Pledge goals by identifying major sources of methane emissions and developing a roadmap for reductions across the sector. EGPC selected Colorado-based IHS Global Inc., a subsidiary of S&P Global Inc., to carry out the assistance.
Nigeria and Central Asia: USTDA will fund reverse trade missions to the United States for oil and gas industry leaders from Nigeria and Central Asia to observe U.S. methane abatement solutions in action, while building related partnerships with U.S. financiers, suppliers, and regulatory and policy experts. These reverse trade missions will follow similar programming from 2023 for delegations from Latin America and North Africa.
EXPAND RENEWABLE ENERGY INFRASTRUCTURE
Zambia: A USTDA feasibility study grant to REV-Up Solar Ventures Zambia Ltd. Will support the development of an estimated 200-megawatt solar power plant and associated battery energy storage system (BESS) to supply clean, reliable energy to Zambia. The project, located in the Mulonga region, also offers the potential to power two critical mineral mines in the Democratic Republic of the Congo.
This is USTDA’s second major solar-plus-storage project in Zambia this year, complementing a grant awarded in March to Zambia’s GreenCo Power Storage Limited to fund a feasibility study and pilot project for a utility-scale BESS project in Zambia’s Sesheke District. Both projects position Zambia to play a key role in renewable energy trading across southern Africa.
ADVANCE A JUST ENERGY TRANSITION
South Africa: USTDA is funding a series of four clean energy and climate infrastructure events to promote cooperation between the U.S. and South African public and private sectors on clean energy development. Events in 2024 will include an electricity transmission workshop in South Africa and two reverse trade missions that will bring South African energy sector leaders to the United States to learn about green hydrogen and municipal energy solutions.
These activities continue USTDA’s support for the Just Energy Transition Partnership with South Africa, which also includes a 2023 technical assistance grant to South Africa’s state-owned electric utility Eskom Holdings SOC Ltd. to increase the transmission grid’s capacity to absorb new, renewable sources of energy generation and reduce the frequency of power cuts across the country.
USTDA’s programming advances U.S. priorities that include the Partnership for Global Infrastructure and Investment (PGI) to deliver game-changing projects to close the infrastructure gap in developing countries, the President’s Plan for Adaptation and Resilience (PREPARE) to deploy infrastructure that supports partner countries’ adaptation needs, and the Global Methane Pledge for a 30 percent reduction of global methane emissions by 2030.
For more information on USTDA’s climate portfolio, please visit USTDA’s Global Climate Partnership webpage.
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The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority infrastructure projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project preparation and partnership building activities that develop sustainable infrastructure and foster economic growth in partner countries.
MEDIA INQUIRIES: Paul Marin | (703) 875-4357
