Luanda back in bed with Budapest over energy projects

摘要

In mid-May Angola ratified a memorandum of understanding with Hungary that aims to strengthen energy cooperation between the two countries. In addition to Hungarian technical assistance for solar farm projects, the text also covers support for the creation by the private sector of an electrical equipment plant in Angola. This could be used to make prepaid electric meters. Budapest is no stranger to Angola's energy sector. During a brief visit to Luanda in February 2018, Hungarian Foreign Minister Péter Szjjorto announced the opening by the Hungarian Export-Import Bank (Eximbank) of a $172m credit line for Angola. This was intended to support Angola's electrification programme, and more specifically to enable the purchase of eight turbines. Manufactured in the United States by General Electric (GE), but assembled at GE's Hungarian site so as to benefit from Budapest's export subsidies, these turbines were to be used for projects in Angola by Portuguese electricity producer Aenergy. Founded in 2012 by Ricardo Leito Machado, the company signed a series of 13 contracts with Luanda in 2017 worth a total of $1.1bn, including the delivery and installation of the eight turbines.