Bioenergy, Geothermal, Hydropower

Ex-Im Bank Supports U.S. Exports for Hydroelectric Power

The Export-Import Bank of the United States (Ex-Im Bank) is offering export financing on repayment terms of up to 15 years for U.S. exports of goods and services to be used in hydroelectric power projects that are in compliance with Ex-Im Bank’s Environmental Procedures and Guidelines (for full text, use link below).

The longer repayment terms are available in accord with an agreement of the Organization for Economic Cooperation and Development (OECD) that permits export credit agencies of OECD countries to offer enhanced terms for renewable energy and water projects. In response to recommendations from U.S. renewable energy and water industries, Ex-Im Bank encouraged the OECD to permit export credit agencies to offer the extended repayment terms for these projects. The 15-year repayment term is also available for U.S. exports for the renewable energy projects including wind, solar photovoltaic, solar thermal, geothermal, ocean thermal, tidal and tidal stream power, wave power, and bioenergy. Also eligible for the 15-year term are U.S. exports for water and wastewater projects. “Ex-Im Bank’s offering of the 15-year repayment term for hydropower projects is a significant enhancement for U.S. exporters in this sector,” said Ex-Im Bank Board Member Linda Conlin, who heads Ex-Im Bank’s Environmental Exports Program. “Historically, Ex-Im Bank has provided financing for many of the world’s prominent hydroelectric projects. We believe that this enhancement further strengthens the ability of U.S. exporters to compete internationally, and it will help to support highly skilled U.S. jobs in these industries.”