The U.S. Export-Import Bank will guarantee a $780,000, 10-year loan to be made by UPS Capital Business Credit to finance the export of photovoltaic 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) in Mexico.
The transaction is being made possible by using medium-term buyer financing that is available to support smaller-scale renewable energy projects in Mexico and in most other countries, the bank said.
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 about $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.
Since 2007, Suniva has used Ex-Im Bank’s buyer financing and working capital guarantees to support its exports to global markets that include Europe, India, Mexico and other countries in Latin America.
U.S. supports solar exports to Mexico
