Here's how the UK government is driving global projects while filling up the order books of UK companies

When Türkiye needed cutting-edge technology for its largest solar farm, UK suppliers delivered the crucial components that powered the operation — and played a key role in transforming the nation's renewable energy landscape. British firms supplied the technical backbone of the 1.35GW Karapinar solar project — inverter stations, power plant controllers, specialized cabling, and custom transformers — through a deal facilitated by UK Export Finance (UKEF), the government's export credit agency.

The support created tens of thousands of local jobs, secured contracts for UK businesses, and now generates clean energy for 2 million Turkish households, exemplifying how UK companies can capture high-value segments of the global renewable supply chain despite solar playing a modest role in Britain's domestic energy portfolio.

The success of projects like Karapinar relies on UKEF's flexible financing capabilities, which make international deals like these viable. UKEF offers attractive financing terms to public and private overseas buyers of UK goods and services to expand their exporting capacity — helping to create sustainable futures in developing economies worldwide. UKEF's financial solutions not only benefit British exporters but also create a significant economic impact in the countries where these projects are delivered.

"Our objective is to use our competitive finance offer to bring in the UK supply chain and its world-class expertise to deliver sustainable infrastructure projects globally," said Vomic Shah, Global Head of Business Origination at UKEF.

UKEF impacts transformational projects around the world

UKEF makes an international impact through ambitious infrastructure projects that address critical needs in developing economies.

In 2021, UKEF backed that £217 million project to construct Türkiye's largest solar farm. Led by Turkish energy company Kalyon Enerji, the 1.35GW plant can power 2 million homes with clean energy. Working with GE Energy Financial Services, and JP Morgan as lead arranger and lender, UKEF guaranteed a £217 million Buyer Credit Facility. This loan guarantee enabled GE to deploy its FLEXINVERTER solar technology, a cost-effective, plug-and-play power conversion system, for the first time outside the US. The project has supported Turkey's long-term climate goal of achieving net-zero emissions by 2053 while also creating valuable trade opportunities for UK suppliers.

The solar plant became fully operational in 2023, and the partnership's success led to a second solar project in 2024, with €249 million in financing. Gareth Thomas, UK Minister for Exports, said: "Our mission is to grow the economy, including through boosting exports so British businesses can sell their world-class goods and services around the world."

Angola has been one of UKEF's most active markets globally, with the Angolan government investing heavily in infrastructure development. In late 2023, UKEF provided a €415 million loan agreement for critical flooding infrastructure, one of its largest Sub-Saharan African projects.

Working with British exporter Innovo Group, the project will improve water supply, storm drainage, sanitation, public lighting, and commercial infrastructure. UKEF's support allows the Angolan government to finance Innovo Group's contract using funds arranged by Standard Chartered Bank. The project is expected to support 11,000 local jobs and to generate a direct spend of over £140 million on UK exports, which will support water supply and drainage projects, road rehabilitation, and community facilities.

UKEF regularly supports initiatives involving international supply chains, often collaborating with other export credit agencies. British companies bring trusted expertise and reliable quality, helping ensure these crucial infrastructure projects meet international standards and deliver lasting value for the communities they're supporting.

How UKEF supports developing economies

As the UK's export credit agency, UKEF contributes to the UK government's international development offer. Export finance helps developing economies access capital markets and deliver large-scale infrastructure projects that otherwise might not get funded. "Mobilizing capital in emerging markets is a core objective for UKEF," said Emma Thomas, Co-Head of Business Origination at the Department.

Relationships are the beating heart of the operation. UKEF's in-country representatives work closely with local governments and ministries to understand their development priorities. Sometimes, UK exporters like Innovo Group approach UKEF with projects they've been developing with foreign governments. Other times, UKEF identifies opportunities and connects UK suppliers to overseas projects by leveraging the Department for Business and Trade (DBT) and its own networks of supplier relationships, including through supplier fairs. At these events, the buyer gets help with meeting UK content requirements and the suppliers can win overseas contracts.

UKEF representatives are stationed in 23 British diplomatic missions around the world, where they work alongside staff from the Foreign Commonwealth and Development Office (FCDO) as well as DBT. Together, they work with foreign government ministries to identify priority projects that need financing and develop business relationships that facilitate transactions, which benefit the local economy as well as UK suppliers.

Building global trust through quality and collaboration

"The developmental impact of export credit agencies has long been overlooked," Thomas said, "but we play an instrumental role in financing projects with positive social, economic, and environmental benefits." UKEF's commitment to responsible and sustainable finance is another key aspect of its international impact. By ensuring projects are delivered to international standards, UKEF helps developing countries build sustainable infrastructure that is environmentally sound and considerate of local communities.

Beyond the direct economic benefits, UKEF's work has meaningful diplomatic implications for the UK's international relationships. In-country, UKEF's representatives build strong rapport with their government counterparts, working hand-in-glove to understand local priorities and to demonstrate the value British businesses, backed by UKEF's competitive financing, can bring to the market — an approach focused on building mutually beneficial partnerships.

Looking ahead

As developing economies face mounting pressure from climate change impacts, rapid urbanization, and infrastructure gaps — all while traditional aid budgets face constraints — UKEF's role becomes increasingly vital. By providing finance that commercial lenders might consider too risky on an uncovered basis, UKEF enables transformational projects that improve lives and build futures.

For UK businesses looking to make a global impact while growing their export potential, UKEF offers a pathway to meaningful international engagement. Through export finance, these companies aren't just selling products and services — they're helping to build a more connected, sustainable world.

For more information on how UKEF is supporting SMEs and ethnic minority-led businesses, click here.

This post was created by Insider Studios with UKEF.