Renewable Energy and Environment

World demand for renewable-energy and other environmentally beneficial goods and services is rapidly rising. For example, the global market for renewable-energy materials and equipment is projected to rise to $31.8 billion in 2015. (Source: BBC Research)

U.S. companies are global leaders in renewable-energy and environmental technologies. Ex-Im Bank is playing an increasing role in supporting their exports to foreign markets.

Ex-Im Bank Renewable-Energy Support

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In FY2011, Ex-Im Bank

• Authorized a record $889 million to support over $1.3 billion of U.S. exports of environmentally beneficial goods and services. More than 81 percent of those authorizations supported exports related to renewable-energy production.

• Supporting U.S. Exports of Wind Turbines Northern Power Systems Inc., a manufacturer of wind turbines based in Barre, Vermont, is using Renewable Express financing from Ex-Im Bank to export 55 100-kilowatt (kWh) distributed wind turbines for community wind projects in Italy. Read More...

  More than doubled its authorizations for renewable-energy exports to $721 million from $332 million in FY2010. This represents a 117 percent increase in renewable-energy support over the amount authorized in FY 2010 and an increase of 614 percent over the amount authorized in FY 2009.

• Became the first international financing institution to finance a solar-power project under the Indian government’s Jawaharlal National Solar Mission to develop 20,000 megawatts of solar power by 2022.

• Approved nearly $180 million for seven solar-energy projects in India, supporting U.S. exporters in the solar photovoltaic (PV) industry across the United States. (See accompanying text.)

• Authorized two transactions totaling $430 million to support exports by First Solar Inc. to solar-energy projects in Canada. In both transactions, Ex-Im Bank is guaranteeing loans denominated in Canadian dollars made with the proceeds of two Canadian market bond issuances with repayment terms of 18 years. Ex-Im’s financing for First Solar exports to Canada and India in FY 2011 is supporting an estimated 550 jobs at the company’s manufacturing facility in Perrysburg, Ohio.

• In addition, the Bank authorized approximately $3 million in transactions supporting end-use energy efficiency exports such as insulation and thermal windows.

Renewable Express

Smaller renewable-energy projects traditionally have been at a disadvantage in obtaining project financing because of the typical high cost. In FY 2011, Ex-Im Bank expanded and renamed its former Solar Express product to help more companies in U.S. solar, wind and other renewable-energy industries to be more competitive and increase their exports.

Renewable Express offers a streamlined and lower-cost approach to smaller projects seeking loans of $3 million to $10 million.