Ex-Im Financing Supports the Export of Wind Turbines made in Kansas and Iowa to Peru
August 25, 2014
(Ex-Im Bank)
The sale will support approximately 800 jobs in those states
Washington, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) has
authorized a pair of direct loans to two wind power projects in Peru for the
export of wind turbines manufactured in Hutchinson, Kan., and Fort Madison,
Iowa, by Siemens Energy Inc.
The financing, almost $65 million in total, represents Ex-Im Bank's first
renewable-energy transactions in Peru and will support approximately 800 U.S.
jobs in Kansas and Iowa, according to bank estimates derived from Departments of
Commerce and Labor data and methodology. Additionally, 20 percent of each
transaction should provide indirect support to small-business exporters.
"These transactions reflect our continued commitment to increasing U.S.
renewable energy exports while supporting good-paying jobs here at home," said
Ex-Im Bank Chairman and President Fred P. Hochberg. "During this fiscal year
alone, Ex-Im Bank has approved financing for five wind farm projects, and we are
looking to do more in the near future. This financing helps ensure that the
turbines helping to power Peru are made here in the U.S. by American workers,
rather than in a competing country."
The wind turbines are destined for use in the Marcona wind project and the Tres
Hermanas wind project, which are located in close proximity in the Ica region of
southern Peru and are estimated to yield an aggregate 129 Mega Watts. Repayment
terms are 17.3 years for the Marcona project and 16.6 years for the Tres
Hermanas project, respectively.
Siemens Energy Inc. is a U.S. subsidiary of Siemens AG, an engineering company
that operates in the industry, energy, healthcare, and infrastructure and cities
sectors. The company reported revenue of $5.9 billion in exports and employs
approximately 52,000 people throughout all 50 states and Puerto Rico.
"In addition to manufacturing wind turbine blades in Iowa and assembling
nacelles in Kansas for projects across the United States, we've been able to
successfully export our equipment to Americas wind projects in Canada, Chile,
Brazil and with Ex-Im Bank's help, Peru, " said Mark Albenze, CEO of Siemens'
Onshore Wind Americas business. "Being able to export our equipment has helped
support more than 800 manufacturing jobs in the heartland of the U.S. at a time
when the U.S. wind market continues to be beleaguered by policy uncertainty."
In FY 2013 alone, Ex-Im Bank authorized $257 million to support renewable energy
exports, primarily to Central and Latin America.
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