Ex-Im Bank Guarantees UPS Capital Loan to Suniva
A U.S. solar-module manufacturer and a Mexican company are both benefiting from the support of the Export-Import Bank of the United States. In a recently approved transaction, Ex-Im Bank will guarantee a $780,000, 10-year loan to be made by UPS Capital Business Credit to finance the export of photovoltaic (PV) solar modules from Suniva in Norcross, GA, to a rooftop solar-power project of Grupo Metal Intra S.A.P.I. de C.V. (GMI). GMI is a leader in Mexico’s prefabricated-building industry.
The transaction is being made possible by utilizing medium-term buyer financing that is available to support smaller-scale renewable-energy projects in Mexico and in most other countries.
“With this authorization, Ex-Im Bank is continuing its strong support for Suniva’s high-efficiency exports that are sustaining high-quality jobs in Georgia,” said Ex-Im Bank chairman and president Fred P. Hochberg. “Our financing also benefits GMI, which will reap clean-energy savings for years to come. We hope to support many more such projects in Mexico and around the world.”