The 10 year loan, to be paid by UPS Capital Business Credit, will be used to finance the export of Suniva Inc.s modules to Grupo Metal Intra S.A.P.I. de C.V.s (GMI) photovoltaic rooftop project, located in the city of Querétaro.
Intragreen Tecnología Sustenable, S.A.P.I. de C.V. will construct the system on GMIs main production plant, in addition to providing local services, and grid connection. It is expected to meet 50% of GMIs energy needs, and reduce energy costs by around 15% annually.
"With this authorization, Ex-Im Bank is continuing its strong support for Sunivas high-efficiency exports that are sustaining high-quality jobs in Georgia," commenetd Ex-Im 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."