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Export-Import Bank Approves $34M For U.S. Solar Shipments To Spain And South Africa

posted Sep 20, 2013, 4:20 AM by Chimanlal Maganlal & Co.   [ updated Sep 20, 2013, 4:20 AM ]
As part of its renewable-energy push, the Export-Import Bank of the United States (Ex-Im Bank) has authorized a pair of direct loans totaling $33.6 million to Spain-based Abengoa that will facilitate the export of Dow Chemical Co.'s Dowtherm A heat-transfer fluid for use in solar projects in Spain and South Africa.

Abengoa operates two parabolic-trough concentrating solar power plants in Logrosan, Spain, and is currently building two plants in Northern Cape province, South Africa. The two plants in Spain and one of the two in South Africa will use Dowtherm A.

"Ex-Im Bank's consistent support of renewable-energy projects demonstrates our commitment to supporting high-skilled jobs in an important homegrown industry and improving the environment," says Ex-Im Bank Chairman and President Fred P. Hochberg. "In addition to contributing to cleaner sources of energy and supporting U.S. jobs, these two transactions will support President Obama's goal of doubling access to power in sub-Saharan Africa."