-
New UK-Brazil agreement will unlock business opportunities in
energy transition and infrastructure projects
-
Hive Energy scales up solar power projects across four
continents with UKEF support
-
UKEF targets £10bn in clean growth financing by 2029
UK Export Finance (UKEF) – the government's export credit agency
– unveils new actions to promote sustainable trade financing and
back British businesses as world leaders descend on Belém for the
COP30 summit.
UKEF has signed a reinsurance agreement with its Brazilian
counterpart, the Agência Brasileira Gestora de Fundos
Garantidores e Garantias (ABGF).
This is the first agreement of its kind that ABGF has signed with
another export credit agency and means that Brazilian exports
that include British content will benefit from UKEF-backed
guarantees – opening collaboration opportunities in energy
transition and infrastructure projects.
Another milestone at COP30 will be the publication of the first
progress report of the Net Zero Export Credit Alliance (NZECA),
chaired by UKEF since its launch at COP28 and comprising export
credit agencies from nine countries. The report, which will be
published on 14 November, will detail how NZECA is working to
align $338 billion of export support with pathways to net zero by
2050.
UKEF has also mobilised new financial support for Hampshire-based
Hive Energy. Finance from HSBC UK, backed by UKEF's General Export Facility,
will enable Hive Energy to scale up solar power projects across
Europe, North America, the Caribbean, South America and Africa.
To date, Hive Energy has completed 60 solar projects, generating
3,066 megawatts of clean energy worldwide.
Tim Reid, Chief Executive of UK Export Finance,
said:
Public finance organisations like UKEF and other export credit
agencies are vital to deliver sustainable international
trade.
We're proud to continue supporting British businesses like Hive
Energy, which reinforce the UK's position as a leader in the
global transition to clean energy.
UKEF has set a target to provide £10 billion of clean growth
finance by 2029, supporting the government's mission to make
Britain a clean energy superpower and achieve at least 95% clean
power by 2030.
