The U.S. Export-Import Bank has authorized a pair of direct loans to two wind power projects in Peru for the export of wind turbines manufactured in Hutchinson, Kan., and Fort Madison, Iowa, by Siemens Energy.
The financing, valued together at $65 million, represents Ex-Im Bank’s first renewable energy transactions in Peru.
“During this fiscal year alone, Ex-Im Bank has approved financing for five wind farm projects, and we are looking to do more in the near future,” said Bank Chairman and President Fred P. Hochberg in a statement. “This financing helps ensure that the turbines helping to power Peru are made here in the U.S. by American workers, rather than in a competing country.”
The wind turbines will be used at the Marcona and Tres Hermanas projects, which are located close together in the Ica region of southern Peru and will generate about 129 megawatts of power. Repayment terms are 17.3 years for the Marcona project and 16.6 years for the Tres Hermanas project, the bank said.
“In addition to manufacturing wind turbine blades in Iowa and assembling nacelles in Kansas for projects across the United States, we’ve been able to successfully export our equipment to Americas wind projects in Canada, Chile, Brazil and with Ex-Im Bank’s help, Peru,” said Mark Albenze, chief executive officer of Siemens’ Onshore Wind Americas business.
In fiscal year 2013 alone, Ex-Im Bank authorized $257 million to support renewable energy exports, primarily to Central and Latin America.