Ex-Im Bank Authorizes $33.6 Million to Aid Exports of U.S. Solar Products to Spain, South Africa
The Export-Import Bank of the U.S. (Ex-Im Bank) authorized a pair of direct loans totaling $33.6 million Sept. 19 to sustainable solar operator Abengoa in Seville, Spain, to “facilitate the export of American heat-transfer fluid produced by the Dow Chemical company.” The fluid will be used towards solar project in Spain and South Africa and replace conventional fossil-fuel boilers, Ex-Im said. The funding will provide support around 200 U.S. jobs, according to bank estimates from Departments of Commerce and Labor.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
Ex-Im President Fred Hochberg said the bank’s two transactions will not only contribute to cleaner sources of energy and support U.S. jobs, but will also “support President Obama’s goal of doubling access to power in sub-Saharan Africa.”