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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