News

Washington, D.C. – The Export-Import Bank of the United States’ (EXIM) Board of Directors yesterday approved a nearly $99.6 million deal for FOCOL Holdings Limited, supporting energy production in The Bahamas.

“This transaction meets two key priorities for EXIM, strengthening the energy supply chain and supporting good-paying American jobs,” said Acting President and Chairman James Cruse. “Combined, the financing of the pipelines and generators ensures reliable energy production and access, while also shifting the energy supply chain away from the People’s Republic of China.”

"This is another example of the strong partnership between the United States and The Bahamas,” said Chargé d’Affaires to The Bahamas, Kimberly Furnish. “We are thrilled that with EXIM support, The Bahamas will be receiving state-of-the-art U.S.-made turbines to bring fast and reliable power to New Providence."

The financing from this transaction will enable The Bahamas to procure two pipelines, one pipeline for diesel and one for natural gas, as well as two gas turbines. North Carolina-based Pike Electric LLC is supplying the pipelines, while Massachusetts-based General Electric (GEV) Vernova is supplying the two TM 2500 Gen 8 aeroderivative gas turbines.

The transaction is expected to support approximately 400 jobs in North Carolina and Ohio.

ABOUT EXIM:

The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at www.exim.gov.