Ex-Im Bank Finances Export of U.S.-Manufactured Wind Turbines to Talas de Maciel Wind Farm in Uruguay
July 10, 2014
(Ex-Im Bank)
Washington, D.C. – The Export-Import Bank of
the United States (Ex-Im Bank) is providing a
$64.5 million direct loan to Astidey S.A., in
Montevideo, Uruguay, for the purchase of
U.S.-manufactured wind-turbine generators being
exported by Gamesa Technology Corporation Inc.,
headquartered in Feasterville-Trevose, Pa.
The authorization, which is Ex-Im Bank's second
wind transaction in Uruguay, will support
approximately 400 U.S. jobs, according to bank
estimates derived from Departments of Commerce
and Labor data and methodology.
Gamesa will supply, transport, install and
commission 25 of its G97 2.0-megawatt (MW) wind
turbines in the 50 MW Talas de Maciel I wind
farm in the Department of Flores, Uruguay,
located approximately 135 kilometers northwest
of Montevideo. The agreement also includes
Gamesa's operation and maintenance of the
facility for 20 years.
"We at Ex-Im Bank are committed to providing
the export financing needed to support American
jobs in a very competitive global marketplace,"
said Ex-Im Bank Chairman and President Fred P.
Hochberg. "By supporting exports in the
renewable-energy sector, we are not only
creating jobs here at home but ensuring that
American manufacturing continues to thrive."
The Bank's support for the transaction was
needed due to a lack of long-term financing
available from commercial lenders. Wind-energy
projects typically require longer repayment
terms due to the extended amount of time needed
for installation and operation at full
capacity.
"Gamesa has a strong track record of Latin
American projects supported by Ex-Im Bank,
which continues to work with us to create new
opportunities for growth and expansion. With
their competitive rates and expertise, Ex-Im
Bank is opening up new markets for
U.S.-manufactured goods, which is helping to
sustain American jobs across the supply chain,"
said Borja Negro, CEO of Gamesa North America.
In fiscal year 2013, Ex-Im Bank authorized a
$72.6 million loan to support Gamesa's exports
to Palmatir S.A., in Uruguay. The Bank has also
supported Gamesa's exports to wind-energy
projects in Costa Rica and Honduras, including
the Cerro de Hula project in Honduras, the
largest wind farm in Latin America.
Gamesa Technology Corp. designs, manufactures
and installs wind-turbine generators and
specializes in the turnkey development,
operation and maintenance of wind farms. Gamesa
has installed more than 29 gigawatts of
wind-energy capacity in 44 countries on five
continents. The company has more than 19,500 MW
under operation and maintenance service
contracts globally.
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