Discusses EXIM Support for Energy Storage during “Looking Ahead to Global Markets” Panel
FOR IMMEDIATE RELEASE August 26, 2020
Office of Communications (202) 565-3207
WASHINGTON – Export-Import Bank of the United States (EXIM) Board Member Judith D. Pryor today participated in a “Looking Ahead to Global Markets” panel at the Energy Storage Association’s annual conference, moderated by Andy Colthorpe, Editor of Energy Storage News. During the panel, Director Pryor highlighted how EXIM can support the energy storage industry by providing financing that helps to level the global playing field.
Joining Director Pryor on the panel were Justin Rangooni, Executive Director of Energy Storage Canada, Patrick Clerens, the Secretary General of the European Association for Storage of Energy, and Xinjing Zhang, PhD, Professor at the Institute of Engineering Thermophysics at the Chinese Academy of Sciences.
“The energy storage industry has a huge impact on global trade, trade in the developing world, and the power agenda writ large,” said Director Judith D. Pryor. “My job, and the job of EXIM, is to make sure we help maximize opportunities within this transformational industry to provide affordable, long-term financing for exports. EXIM has the ability to lean in and help American energy storage exports take advantage of lucrative growth markets while making a difference in the health of our people and our planet.”
In her remarks, Director Pryor discussed EXIM’s congressional mandate to set a 5 percent target of EXIM’s portfolio to finance renewable energy technology, including energy storage and energy efficiency. She also discussed EXIM’s new Program on China and Transformational Exports, established in EXIM’s historic seven-year reauthorization, which is intended to help level the playing field for U.S. exporters and workers by directly neutralizing export subsidies for competing goods and services offered by the People’s Republic of China.
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, approximately 90 percent of the total number of the agency’s authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.
For more information about EXIM, please visit www.exim.gov.