The US ExIm Bank will guarantee a $780,000, 10-year loan to export PV modules from Suniva Inc. in Norcross, Georgia to a rooftop solar-power project of Mexico’s Grupo Metal Intra S.A.P.I. de C.V. (GMI). The transaction, made by UPS Capital Business Credit, is utilizing medium-term buyer financing that is available to support smaller-scale renewable-energy projects in Mexico and in most other countries.
US solar-module manufacturer and a Mexican company are both benefiting from the support of the US ExIm Bank. 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 Inc. 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.
“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 ExIm 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.”
Another GMI company, Intragreen Tecnología Sustenable, S.A.P.I. de C.V., will integrate the solar project and act as the provider of local services, including the project’s installation and connection to the grid. Ex-Im Bank’s medium-term guarantee will also support approximately $130,000 of related local costs.
The 500-kilowatt roof-top solar power project will be placed on the roof of GMI’s main production plant in the city of Querétaro. The project will be one of the largest rooftop solar-energy facilities in Mexico.
Make sure you visit and click ‘Like’ on our Facebook page to receive even more news and updates from Alternative Energy Africa.