Ex-Im Bank Guarantees BofA Wind Turbine Blade Export Loan
In line with its congressional mandate to increase support for renewable-energy exports, the Export-Import Bank of the United States has authorized a $32.1 million loan guarantee to Wind Power Energia S.A. of Sao Paulo, Brazil, for the purchase of wind turbine blades manufactured by LM Wind Power Blades of Little Rock, AK.
Ex-Im Bank’s financing, which guarantees a Bank of America loan, will support approximately 250 permanent American jobs at the company’s Little Rock, AK and Grand Forks, ND, manufacturing facilities.
“The bank’s loan guarantee will facilitate the export of American-made products to one of our nine key markets at a critical time,” said Ex-Im Bank chairman and president Fred P. Hochberg. “By doing so, it will simultaneously support American jobs in a valuable industry and boost Brazil’s clean-energy prospects.”
The wind blades will be used to complete a 180-megawatt wind farm in the Brazilian state of Bahia and another 211-megawatt farm in the Brazilian state of Ceara.