in News Departments > Projects & Contracts
print the content item

The Export-Import Bank of the U.S. (Ex-Im Bank) is providing a $64.5 million direct loan to Astidey S.A. in Montevideo, Uruguay, for the purchase of U.S.-manufactured wind turbine generators being exported by Gamesa Technology Corp. Inc.

The authorization, which is Ex-Im Bank's second wind transaction in Uruguay, will support approximately 400 U.S. jobs, according to bank estimates derived from Departments of Commerce and Labor data and methodology.

Gamesa will supply, transport, install and commission 25 of its G97-2.0 MW wind turbines in the 50 MW Talas de Maciel I wind farm, located approximately 135 kilometers northwest of Montevideo. The agreement also includes Gamesa's operations and maintenance of the facility for 20 years.

The bank's support for the transaction was needed due to a lack of long-term financing available from commercial lenders. Wind energy projects typically require longer repayment terms due to the extended amount of time needed for installation and operation at full capacity, notes the Ex-Im Bank.

In 2013, Ex-Im Bank authorized a $72.6 million loan to support Gamesa's exports to Palmatir S.A. in Uruguay. The bank has also supported Gamesa's exports to wind energy projects in Costa Rica and Honduras, including the Cerro de Hula project in Honduras, the largest wind farm in Latin America.



Trachte Inc._id1770
Latest Top Stories

Utility-Scale Wind And Solar Keep Getting Cheaper

A new study measures the levelized cost of energy from various technologies and suggests that the costs of utility-scale wind and solar power are catching up with those of traditional sources, even without subsidies.


The Song Remains The Same: Ontario Seeks More Science Before Lifting Offshore Ban

The Ontario government says the nearly four-year-old offshore wind moratorium will remain in place until the province fully understands the technology’s impact on the environment.


Why States Should Adopt A Renewable Portfolio Standard

A new study analyzes the potential benefits of state renewable energy mandates, as well as recommends what such policies should include.


Sen. Reid Vows To Bring Wind PTC To A Vote By Year's End

Nevada's senior senator provides some encouragement to wind industry advocates during his annual Clean Energy Summit.


Steadily, Wind Turbine OEMs Resume R&D Investment

An increased commitment to research and development will likely lead to wind energy innovation - not to mention a likely increase in patent-protected technology.

Renewable NRG_id1934
Canwea_id1984
UnitedEquip_id1995
Future Energy_id2008