SSAB to Supply Steel for Photovoltaic Solar Parks in Angola

SSAB Borlange and SSAB Arendal are to supply steel to build a number of photovoltaic solar parks in Angola. The plants will strengthen electricity supply
SSAB to Supply Steel for Photovoltaic Solar Parks in Angola
SSAB AngolaAfrican Magazine

SSAB Borlange and SSAB Arendal are to supply steel to build a number of photovoltaic solar parks in Angola. The plants will strengthen electricity supply in the country and help Angola to switch to renewables and reduce dependency on fossil fuels. The first step in the international business project was recently concluded with the Swedish Export Credit Corporation financing the transaction, which is guaranteed by the Swedish Export Credit Agency EKN. Among the international parties involved in the project is SSAB, which will supply the steel. To ensure that EKN could act as guarantor of the Angolan government, one of the conditions was the use of several Swedish suppliers. For SSAB, this means a total shipment of around 6,000 tonnes of steel, which will be processed into profiles to be piled into the ground and later be used in a racking system on which the solar panels will be mounted.

Once the first transaction is completed, EKN would appear to be a safe financier in this type of business. The potential for more business depends on how well the first part goes. The lead supplier will make an evaluation based on how well the commitments have been met and how secure the funding is.

The photovoltaic solar park is one of seven different solar panel projects, two larger ones close to the Angolan capital of Luanda and five smaller projects in rural areas. The total capacity will be 370 megawatts and will make a huge difference for the country’s electricity supply and help to reduce the country’s dependency on fossil energy sources.

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