Ex-Im Bank Awards Gamesa "Renewable Energy Exporter of the Year"
WASHINGTON, April 24, 2014 /PRNewswire-USNewswire/ -- Today the Export-Import Bank of the United States (Ex-Im Bank) awarded its Renewable Energy Exporter of the Year distinction to a major supplier in the wind power market, Gamesa Wind US, LLC. Gamesa's wind turbines generate electricity in 42 countries, and its sales of American-made machinery support hundreds of U.S. jobs, according to the Departments of Commerce and Labor. The award was presented at the Bank's Annual Conference in Washington, D.C.
During the past four years, Ex-Im Bank collaborated with Gamesa on four renewable power transactions, which in part supported 800 Pennsylvania employees of the company. Two of the four involved projects in Honduras; similar export sales were transacted with Costa Rica and Uruguay.
"Ex-Im Bank set a priority on financing renewable energy exports, for both business and national policy reasons. Gamesa's export sales maintain good American jobs, and their products make a cleaner environment for everybody," said Ex-Im Bank Chairman and President Fred P. Hochberg. "At no cost to taxpayers, the Bank enables U.S. exporters such as Gamesa to secure a place in a growing market for utility-scale wind projects, especially in Latin America."
Costa Rica, for example, has set an ambitious national goal of generating 100 percent of its electricity from renewable energy sources by 2021. Wind energy makes good economic sense for Costa Rica because of its typical prevailing winds and specific power requirements. Gamesa supplied wind turbines for the 50-megawatt Orosi windfarm project in Guanacaste province, following a successful transaction with financing by Ex-Im Bank. The Orosi Wind Project recently received the 2013 Latin American Wind Deal of the Year award from Project Finance Magazine.
"We are honored to once again receive this prestigious award from Export-Import Bank," said Borja Negro, CEO Gamesa North America. "Ex-Im bank financing tools have been an important component to our success in Gamesa's U.S. export activities – particularly in Latin America. Ex-Im's support is a clear indicator of the Bank's commitment to the U.S. renewable-energy industry. Our ability to supply turbines for projects like Orosi's wind farm in Costa Rica provides Gamesa and our suppliers another avenue to grow sales in a U.S. market susceptible to energy policy uncertainty."
Ex-Im Bank's 2014 Annual Conference will focus on the global business environment and prospects for growth. The event will feature prominent members of the business and government community including Secretary of Commerce Penny Pritzker, Secretary of Energy Ernest Moniz, Secretary of Agriculture Tom Vilsack, Former Treasury Secretary and President Emeritus of Harvard University Lawrence Summers, Wells Fargo Chairman and CEO John Stumpf, SpaceX CEO and Chief Designer Elon Musk, Pemex CEO Emilio Lozoya Austin, and Virginia Governor Terry McAuliffe. A full listing of speakers, panelists, and moderators is available on Ex-Im's website: www.exim.gov.
ABOUT EX-IM BANK:
Ex-Im Bank is an independent federal agency that creates and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance, and financing to help foreign buyers purchase U.S. goods and services. In the past fiscal year alone, Ex-Im Bank earned for U.S. taxpayers more than $1 billion above the cost of its operations.
In FY 2013, Ex-Im Bank approved more than $27 billion in total authorizations to support an estimated $37.4 billion in U.S. export sales and approximately 205,000 U.S. jobs in communities across the country. For the year, the Bank approved a record 3,413 transactions, 89 percent of them for small businesses. Small-business exporters can learn about how Ex-Im Bank products can help them increase foreign sales at http://go.usa.gov/ZVTd. For other information about Ex-Im, visit www.exim.gov.
SOURCE Export-Import Bank of the United States