Ex-Im Bank Lauds Siemens Wind Energy For Role In Export Financing

Posted by NAW Staff on April 22, 2015 No Comments
Categories : New & Noteworthy

The Export-Import Bank of the U.S. (Ex-Im Bank) will present its Deal of the Year and Renewable Exporter of the Year awards to Siemens Energy during its annual conference.

Thanks to Ex-Im Bank financing, Siemens was able to export wind turbines manufactured in Hutchinson, Kan., and Fort Madison, Iowa, to Peru.

According to the Ex-Im Bank, such financing not only levels the playing field for American goods and services, but also fills private-sector financing gaps – particularly when it comes to long-term energy projects in emerging markets.

The deals represent Ex-Im Bank's first renewable energy transactions in Peru and supported approximately 400 jobs in Kansas and Iowa, according to bank estimates derived from the U.S. Department of Commerce and the Department of Labor data and methodology.

‘We are proud to recognize Siemens Energy both as the Renewable Exporter of the Year and for the vital role they played in Ex-Im's Deal of the Year,’ says Fred P. Hochberg, chairman and president at Ex-Im Bank. ‘Siemens' made-in-America wind turbines are increasing energy access in Peru, but more importantly, here at home, they are supporting hundreds of good-paying manufacturing jobs.’

The wind turbines are destined for use in the Marcona wind project and the Tres Hermanas wind project, which are located in close proximity to the Ica region of southern Peru and are estimated to yield an aggregate 129 MW.

‘Ex-Im Bank played a critical role in the export of our American-made wind turbines for these renewable energy projects in Peru,’ says Jacob Andersen, CEO of Siemens Wind Power & Renewables Onshore Americas. ‘The ability to export equipment is helping sustain manufacturing jobs here in the United States. Through our factories in Iowa and Kansas, Siemens has made a long-term commitment to the success of America's wind industry, and we will continue to seek opportunities to work with Ex-Im as we grow our exporting capacity and expand our footprint.’

Since 2009, Ex-Im Bank has authorized nearly $2 billion to support the export of U.S. goods and services related to renewable energy production.

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