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

Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.


Embryonic No More: U.S. Offshore Wind Industry Gaining Momentum

After a decade of fits and starts, the industry is moving closer to installing the first generation of wind projects off the country's shores.

Canwea_id1984
Renewable NRG_id1934
Tower Conference_id1965