Ex-Im Bank Approves $780,000 Loan Guarantee To Finance U.S. Solar-Module Exports to Mexican Rooftop Solar-Power Project
January 28, 2013
(Ex-Im Bank)
WASHINGTON, D.C. — A U.S. solar-module
manufacturer and a Mexican company are both
benefiting from the support of the
Export-Import Bank of the United States (Ex-Im
Bank). In a recently approved transaction,
Ex-Im Bank will guarantee a $780,000, 10-year
loan to be made by UPS Capital Business Credit
to finance the export of photovoltaic (PV)
solar modules from Suniva Inc. in Norcross,
Ga., to a rooftop solar-power project of Grupo
Metal Intra S.A.P.I. de C.V. (GMI). GMI is a
leader in Mexico’s prefabricated-building
industry.
The transaction is being made possible by
utilizing medium-term buyer financing that is
available to support smaller-scale
renewable-energy projects in Mexico and in most
other countries.
“With this authorization, Ex-Im Bank is
continuing its strong support for Suniva’s
high-efficiency exports that are sustaining
high-quality jobs in Georgia,” said Ex-Im Bank
Chairman and President Fred P. Hochberg. “Our
financing also benefits GMI, which will reap
clean-energy savings for years to come. We hope
to support many more such projects in Mexico
and around the world.”
Another GMI company, Intragreen Tecnología
Sustenable, S.A.P.I. de C.V., will integrate
the solar project and act as the provider of
local services, including the project’s
installation and connection to the grid. Ex-Im
Bank’s medium-term guarantee will also support
approximately $130,000 of related local costs.
The 500-kilowatt roof-top solar power project
will be placed on the roof of GMI’s main
production plant in the city of Querétaro. The
project will be one of the largest rooftop
solar-energy facilities in Mexico.
Since 2007, Suniva has used Ex-Im Bank’s buyer
financing and working capital guarantees to
support its exports to global markets that
include Europe, India, Mexico and other
countries in Latin America. Ex-Im’s financing
has helped to sustain 190 jobs at Suniva’s
manufacturing facility in Norcross, Ga.
“Suniva is very proud to partner with a leading
and visionary organization like GMI/Intragreen
in Mexico,” said Suniva Chairman and CEO John
Baumstark. “It is most fitting that the first
major export and installation of our modules in
Mexico is utilizing a guarantee from the U.S.
Export-Import Bank with which we have a
longstanding and valuable relationship.”
“GMI has a long history of innovation and
leadership in construction technology. Through
our Intragreen subsidiary, we are continuing
that tradition in renewable energy. We are
grateful that Suniva, UPS Capital and Ex-Im
Bank have joined us as a vital part of that
vision,” said Oscar Peralta Navarrete, chairman
of the board of GMI.
Suniva’s technology was selected due to its
high-efficiency rate of more than 16 percent at
the module level that produces more power on
limited surface areas. Suniva is also providing
racking and inverters. The solar project is
expected to generate 50 percent of GMI’s
electricity needs and reduce GMI’s overall
energy costs by at least 15 percent annually.
GMI estimates that the energy savings will
repay the investment in the solar panels in
about seven years, while reducing CO2 emissions
by approximately 677 tons per year.
Suniva is a U.S. manufacturer of
high-efficiency crystalline silicon
photovoltaic (PV) solar cells and high-power
solar modules. Headquartered in the
metropolitan Atlanta area, Suniva sells its
advanced PV cells and modules globally. The
company evolved from the work of Dr. Ajeet
Rohatgi at the University Center of Excellence
for Photovoltaics Research and Education (UCEP)
at the Georgia Institute of Technology. For
more information, visit www.suniva.com.
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