Ex-Im Bank finances wind turbines for Uruguay wind farm

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Ex-Im Bank finances wind turbines for Uruguay wind farm

The Export-Import Bank of the United States (Ex-Im Bank) is providing a US$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.

The authorization is Ex-Im Bank's second wind transaction in Uruguay.

Gamesa will supply, transport, install and commission 25 of its G97 2.0 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.

Fred P. Hochberg, Ex-Im Bank Chairman and President, stated:

We at Ex-Im Bank are committed to providing the export financing needed to support American jobs in a very competitive global marketplace. 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.

Borja Negro, CEO of Gamesa North America, stated:

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.

In fiscal year 2013, Ex-Im Bank authorized a US$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 GW 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.

Share this news