Ex-Im Bank Launching Renewable Energy Export Initiative

The Export-Import Bank of the U.S. (Ex-Im Bank) has joined seven other U.S. government agencies in launching a coordinated effort to promote renewable energy and energy-efficiency exports under a project called the Renewable Energy and Energy Efficiency Export Initiative.

A top priority of Ex-Im Bank is to increase its support for renewable energy and energy-efficient exports by offering enhanced financing under its Environmental Exports Program. The bank says it can provide repayment terms up to 18 years for renewable energy projects, offer capitalization of interest during construction, and support local costs up to 30% of the U.S. scope of supply.

In addition, the bank provides streamlined financing for U.S. exporters of solar energy equipment for small solar-energy projects.

According to the Ex-Im Bank, the initiative is the country's first-ever federal government-coordinated effort to support renewable energy and energy-efficiency exports. Through the implementation of 23 interagency actions, the initiative will facilitate a significant increase of renewable energy and energy efficiency exports during the next five years, helping to meet the goals of the National Export Initiative and President Obama's challenge to make the U.S. the leading exporter of clean energy technologies.

SOURCE: Export-Import Bank of the U.S.

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