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OPIC, State, and USTDA Launch Asia-Pacific Clean Energy Program
February 26, 2014

The Overseas Private Investment Corporation (OPIC), the U.S. Department of State, and the U.S. Trade and Development Agency (USTDA) will host a roundtable discussion highlighting the official launch of the Asia-Pacific Clean Energy Program on February 27 at 2 p.m.

The Asia-Pacific Clean Energy Program is being launched under the U.S. - Asia Pacific Comprehensive Energy Partnership (USACEP), which focuses on facilitating renewable and cleaner energy, markets and interconnectivity, the emerging role of natural gas, and sustainable development in the region. Limited access to reliable energy and power resources represents one of the largest obstacles to social and economic growth in Southeast Asia. Due to growing demand, the region will require nearly $9 trillion in energy investments by 2035. OPIC, USTDA, the U.S. Export-Import Bank, and the Department of State have made available $6 billion in financing resources to support regional energy investments and domestic job creation.

The Asia-Pacific Clean Energy Program under USACEP will for the first time support dedicated personnel from OPIC and USTDA to be co-located in the U.S. Embassy in Bangkok to facilitate investment in energy projects in the region and economic growth in the United States. OPIC and USTDA’s Asia Pacific expertise will help maximize the $6 billion in financial resources by providing tools such as loans, insurance, project preparation and technical assistance support, while enhancing U.S.-Asia business partnerships. OPIC will provide structured finance and insurance products for these energy projects to give investors access to long-term capital necessary for large scale endeavors.

Representatives speaking at the event will include Carlos Pascual, the State Department’s Special Envoy and Coordinator for International Energy Affairs, Scott Marciel, Principal Deputy Assistant Secretary, Bureau of East Asian and Pacific Affairs at the Department of State, Mimi Alemayehou, Executive Vice President, Overseas Private Investment Corporation, and Enoh Ebong, General Counsel, U.S. Trade and Development Agency. This event is open to the press and will take place on February 27, at OPIC headquarters, 1100 New York Avenue, Washington, DC, 2:00-4:00 p.m. RSVPs are strongly encouraged.

OPIC and USTDA are working to support both energy investments in the region and economic growth in the United States. OPIC and USTDA’s expertise in the region will help maximize the availability of needed financial resources by providing tools such as loans, insurance, project preparation and technical assistance support, while enhancing U.S.-Asia business partnerships. OPIC will provide structured finance products for USACEP energy projects to give investors access to long-term capital necessary for large scale endeavors.

In the coming year, the United States will continue its USACEP cooperation with its regional partners to drive investment and open commercial opportunities for U.S. businesses in clean energy, power grid modernization, and unconventional gas development which will help provide affordable, secure, and cleaner energy supplies for the Asia-Pacific region.

For more information, please visit the U.S. ACEP Fact Sheet. To RSVP or for press inquiries, please contact Jenifer Joyce, ENR Press Officer at joycej@state.gov or 202-647-7959.

 







By AICC News Center











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