America's Ex-Im bank supports renewables exports

The U.S. Export-Import Bank has announced it provided $200 million in financing to renewable energy exports this year.

The Washington-based federal lender revealed the figure in a press release yesterday, bringing its support for renewables exports to almost $2 billion since 2009.

This year’s figure is similar to that for 2013 when, the lender claims, its long-term financing support enabled the export of $550 million worth of U.S. exports to the solar, wind, hydro and geothermal industries.

"American businesses have the innovation, technologies, and skilled workers needed to seize the unprecedented opportunities emerging in the global renewable energy sector," said Ex-Im chairman and president Fred P. Hochberg.

"Our goal at Ex-Im is to fill the gap when private lenders can’t offer support, so that U.S. companies can compete on a level playing field in this growing market."

The Ex-Im Bank offers support through channels such as export credit insurance and working capital guarantees.