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Ex-Im Bank-backed Orosi Project Wins Latin American Wind Deal of the Year 2013

Wednesday, March 19, 2014

(Ex-Im Bank)  Washington, D.C. The Inversiones Eolicas de Orosi Dos S.A. (Orosi) Wind Project, a 50-megawatt wind farm in Costa Rica backed by Export-Import Bank of the United States (Ex-Im Bank) credit, received the Latin American Wind Deal of the Year 2013 from Project Finance Magazine.

"We thank Project Finance Magazine for recognizing Ex-Im Bank's commitment to the American renewable-energy industry and the jobs it supports here at home," said Export-Import Bank Chairman and President Fred P. Hochberg. "By financing the export of wind blades manufactured by Gamesa in Pennsylvania, we not only bolstered American job growth, but we also contributed to energy production in Costa Rica. It should be no surprise that we approved $257 million in authorizations for exports in wind, solar, biomass and other renewable-energy industries in FY 2013 to support high-tech American jobs."

In late 2013, Ex-Im Bank approved a $61.1 million direct loan to Orosi, a subsidiary of the leading Central American wind-generation company Globeleq Mesoamerica Energy, for the purchase of wind-turbine generators manufactured by Gamesa in Fairless Hills, Pa.

The authorization, which represents Ex-Im Bank's first wind transaction in Costa Rica and fourth utility-scale wind project overall, will support approximately 200 U.S. jobs, according to Bank estimates derived from Departments of Commerce and Labor data and methodology.