US Ex-Im Bank to promote RE tech exports
WASHINGTON, Nov. 7 (Reuters) – The US Export-Import Bank said it will provide up to $250 million to help finance exports of US-built-and-designed technology used in generating renewable energy including solar, wind and geothermal.
''We want to help American manufacturers produce green technology for the world,'' said Fred Hochberg, chairman and president of Ex-Im Bank. ''This common sense approach is good for the environment. It's good for business, and it's good for American workers.''
The renewable financing facility is part of the Ex-Im Bank's new comprehensive carbon policy it adopted to support US exports that fight global warming.
The bank said it wants to become a leader in financing climate-friendly technologies made by US companies, including those that cut greenhouse gas emissions and boost energy efficiency.
Global investment through 2030 could total $2.1 trillion for wind turbines and $1.5 trillion for solar photovoltaic panels, according to the US Energy Department.
China alone is spending about $9 billion a month on clean energy, the department said. The Ex-Im Bank will help US companies get some of that business.
The bank will support US renewable exports by guaranteeing repayment of loans given to companies in case they default, providing export credit insurance and making direct loans.
The Bank's carbon policy also supports the Obama administration's plan to create jobs in the new green economy.
''In the coming years, there will be a vigorous effort to limit carbon pollution that will require a massive deployment of clean energy technologies,'' US Energy Secretary Chu said last week at a Senate hearing on climate change legislation.


