Ex-Im Bank Authorizes $150 Million in Export Financing for Energy Projects in Latin America

Ex-Im Bank Authorizes $150 Million in Export Financing for Energy Projects in
                                Latin America

PR Newswire

WASHINGTON, Dec. 18, 2012

Transactions will support more than 500 American jobs

WASHINGTON, Dec. 18, 2012 /PRNewswire-USNewswire/ -- More than a $150 million
worth of American-made energy equipment will head to Uruguay and Mexico
because of transactions approved this week by the Export-Import Bank of the
United States (Ex-Im Bank). The Bank approved a $78.6 million direct loan to
Abengoa (MCE: ABG.B), a company in Seville, Spain, that applies technology
solutions for sustainable development in the energy and environment sectors.
The Bank also approved a $73.6 million direct loan to Palmatir S.A., a 50 MW
wind farm in Cuchilla de Peralta, Uruguay, which is owned by Abengoa. 
Approximately 510 American jobs will be supported from these two transactions.

(Logo: http://photos.prnewswire.com/prnh/20110414/MM83673LOGO )

"These two transactions demonstrate the strength of American energy technology
and highlight the importance of this growing sector," said Ex-Im Bank Chairman
and President Fred P. Hochberg. "In order for the U.S. to compete globally,
our companies must continue to produce cutting-edge energy technology.
President Obama set an ambitious goal of doubling U.S. exports in five years,
and these types of projects will help us meet that goal in 2015."

Uruguay - Palmatir S.A.

The Palmatir S.A. loan is Ex-Im Bank's first wind transaction in Uruguay, and
it is the largest in the country's history from the Bank. Ex-Im's loan will
support the purchase of 25 wind turbines from Gamesa Technology Corporation
(Gamesa), which has its North American headquarters in Trevose, Pa. The loan
will also help to finance ancillary services and local costs in Uruguay
associated with construction of the wind farm. The project will feature
Gamesa's G90-2.0 MW turbines. Gamesa began manufacturing wind turbines in the
United States in 2006, and it has supplied more than 3,900 megawatts since its
arrival in the U.S. The loan will support approximately 160 jobs at Gamesa,
and this will be company's first project in Uruguay.

In April 2011, Chairman Hochberg joined President Obama for a tour of Gamesa's
factory in Fairless Hills, Pa. Last year, Gamesa received Ex-Im Bank's
"Renewable Energy Exporter of the Year" award for its work on a 102-megawatt
wind farm in Honduras.

"Exports equal jobs, and Ex-Im Bank provides great mechanisms for facilitating
our exports," Gamesa North America Chairman David Flitterman said. "The strong
demand for our Pennsylvania-manufactured wind turbines in Central and South
America provides lasting benefits to our local economy. This creates
additional benefits to our supply chain that provides the materials and
services needed in the manufacturing process."

Mexico - Abengoa S.A.

The Bank's loan to Abengoa S.A. will support the purchase of three GE 7FA gas
turbines and two generators for the use in the 642 MW Centro Power Project in
Morelos, Mexico. The American exports will be used to help build a power plant
for Mexico's public electric utility. Approximately 350 jobs at GE are
supported by the Bank's financing.

According to the customer, Ex-Im support for this project was needed due to
foreign competition and limited availability of long-term loans.

About Ex-Im Bank

Ex-Im Bank is an independent federal agency that creates and maintains U.S.
jobs by filling gaps in private export financing at no cost to American
taxpayers. In the past five years (from Fiscal Year 2008), Ex-Im Bank has
earned for U.S. taxpayers nearly $1.6 billion above the cost of operations.
The Bank provides a variety of financing mechanisms, including working capital
guarantees, export-credit insurance and financing to help foreign buyers
purchase U.S. goods and services.

Ex-Im Bank approved $35.8 billion in total authorizations in FY 2012 – an
all-time Ex-Im record. This total includes more than $6.1 billion directly
supporting small-business export sales – also an Ex-Im record. Ex-Im Bank's
total authorizations are supporting an estimated $50 billion in U.S. export
sales and approximately 255,000 American jobs in communities across the
country. For more information, visit www.exim.gov.

SOURCE Export-Import Bank of the United States

Website: http://www.exim.gov
Contact: Jamie Radice, +1-202-565-3200
 
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