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-- WITH PHOTO -- TO BUSINESS, ENERGY, AND NATIONAL EDITORS:
Ex-Im Bank Awards Gamesa "Renewable Energy Exporter of the Year"
WASHINGTON, April 24, 2014 /PRNewswire-USNewswire/ -- Today the
Export-Import Bank of the United States (Ex-Im Bank) awarded its
Renewable Energy Exporter of the Year distinction to a major supplier
in the wind power market, Gamesa Wind US, LLC. Gamesa's wind turbines
generate electricity in 42 countries, and its sales of American-made
machinery support hundreds of U.S. jobs, according to the Departments
of Commerce and Labor. The award was presented at the Bank's Annual
Conference in Washington, D.C.
During the past four years, Ex-Im Bank collaborated with Gamesa on
four renewable power transactions, which in part supported 800
Pennsylvania employees of the company. Two of the four involved
projects in Honduras; similar export sales were transacted with Costa
Rica and Uruguay.
"Ex-Im Bank set a priority on financing renewable energy exports, for
both business and national policy reasons. Gamesa's export sales
maintain good American jobs, and their products make a cleaner
environment for everybody," said Ex-Im Bank Chairman and President
Fred P. Hochberg. "At no cost to taxpayers, the Bank enables U.S.
exporters such as Gamesa to secure a place in a growing market for
utility-scale wind projects, especially in Latin America."
Costa Rica, for example, has set an ambitious national goal of
generating 100 percent of its electricity from renewable energy
sources by 2021. Wind energy makes good economic sense for Costa Rica
because of its typical prevailing winds and specific power
requirements. Gamesa supplied wind turbines for the 50-megawatt Orosi
windfarm project in Guanacaste province, following a successful
transaction with financing by Ex-Im Bank. The Orosi Wind Project
recently received the 2013 Latin American Wind Deal of the Year award
from Project Finance Magazine.
"We are honored to once again receive this prestigious award from
Export-Import Bank," said Borja Negro, CEO Gamesa North America.
"Ex-Im bank financing tools have been an important component to our
success in Gamesa's U.S. export activities - particularly in Latin
America. Ex-Im's support is a clear indicator of the Bank's
commitment to the U.S. renewable-energy industry. Our ability to
supply turbines for projects like Orosi's wind farm in Costa Rica
provides Gamesa and our suppliers another avenue to grow sales in a
U.S. market susceptible to energy policy uncertainty."
Ex-Im Bank's 2014 Annual Conference will focus on the global business
environment and prospects for growth. The event will feature prominent
members of the business and government community including Secretary
of Commerce Penny Pritzker, Secretary of Energy Ernest Moniz,
Secretary of Agriculture Tom Vilsack, Former Treasury Secretary and
President Emeritus of Harvard University Lawrence Summers, Wells Fargo
Chairman and CEO John Stumpf, SpaceX CEO and Chief Designer Elon Musk,
Pemex CEO Emilio Lozoya Austin, and Virginia Governor Terry McAuliffe.
A full listing of speakers, panelists, and moderators is available on
Ex-Im's website: www.exim.gov.
ABOUT EX-IM BANK: Ex-Im Bank is an independent federal agency that
creates and maintains U.S. jobs by filling gaps in private export
financing at no cost to American taxpayers. The Bank provides a
variety of financing mechanisms, including working capital guarantees,
export-credit insurance, and financing to help foreign buyers purchase
U.S. goods and services. In the past fiscal year alone, Ex-Im Bank
earned for U.S. taxpayers more than $1 billion above the cost of its
operations.
In FY 2013, Ex-Im Bank approved more than $27 billion in total
authorizations to support an estimated $37.4 billion in U.S. export
sales and approximately 205,000 U.S. jobs in communities across the
country. For the year, the Bank approved a record 3,413 transactions,
89 percent of them for small businesses. Small-business exporters can
learn about how Ex-Im Bank products can help them increase foreign
sales at http://go.usa.gov/ZVTd. For other information about Ex-Im,
visit www.exim.gov.
Logo - http://photos.prnewswire.com/prnh/20110414/MM83673LOGO
SOURCE Export-Import Bank of the United States
-0- 04/24/2014
/CONTACT: Steve Horning, (202) 565-3200
/Photo: http://photos.prnewswire.com/prnh/20110414/MM83673LOGO
PRN Photo Desk, photodesk@prnewswire.com
/Web Site: http://www.exim.gov
CO: Export-Import Bank of the United States
ST: District of Columbia
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0000 04/24/2014 19:04:00 EDT http://www.prnewswire.com
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