The Export-Import Bank of the United States (Ex-Im Bank) announced its new "Solar Express" product that will provide streamlined financing for US exports to small solar-energy projects that could be approved in as few as 60 days.
Export sales using Solar Express will enable the Bank to consider
project financing for small solar-power producers seeking loans of $3
million to $10 million.
Ex-Im Bank Chairman and President Fred P. Hochberg said smaller-scale solar projects traditionally have been at a disadvantage in obtaining project financing because of the high cost of advisory services.
The Bank’s Environmental Exports Program offers enhancements for
eligible U.S. exports such as greater risk protection, capitalization of
interest during construction and financing of local costs up to 30% of
the U.S. contract price. Repayment terms of up to 18 years are available
for U.S. exports to renewable-energy and water-related projects.
Ex-Im Bank, an independent, self-sustaining federal government agency, exists to fill gaps in export financing, strengthen U.S. export competitiveness, and create and maintain U.S. jobs. The Bank provides a variety of financing mechanisms, including working capital guarantees to help small and medium-sized U.S. businesses, export-credit insurance to protect against nonpayment by foreign buyers, and loan guarantees and direct loans to assist foreign buyers of U.S. goods and services.
In fiscal 2009, Ex-Im Bank authorized $363 million to support an estimated $640 million of U.S. exports of environmentally beneficial goods and services.
FERC looks to ease development of small hydropower projects
The Federal Energy Regulatory Commission (FERC) took a step toward making its small hydropower licensing program more user-friendly by announcing a series of Web-based tools that will help developers understand the FERC licensing process, help improve coordination with other agencies, and help license applicants complete the process more quickly and efficiently.
The new resources, to be available at www.ferc.gov in August 2010, came out of discussions at FERC’s December 2009 technical conference on small, non-federal hydropower projects. The resources will provide a roadmap that walks applicants through the process of selecting a project site, determining if a project is jurisdictional, selecting a FERC licensing process, consulting with stakeholders, and preparing a license or exemption application.
Staff also intends to update existing agreements, or Memoranda of Understanding (MOUs), with other agencies to improve coordination, and will employ a new outreach program to educate potential small hydro developers. Staff also will continue to provide a small hydro hotline and email address to answer applicants’ questions.
At the December 2009 technical conference, participants noted the increasing interest in small hydropower in recent years. Last year, FERC staff received almost twice as many inquiries on small hydro issues than in 2008.
U.S. and UAE Sign Agreement to Strengthen Cooperation on Clean Energy
The U.S. Department of Energy (DOE) and Masdar, Abu Dhabi’s multifaceted renewable energy initiative, signed a Memorandum of Understanding (MoU) to promote collaboration on clean and sustainable energy technologies.
The agreement establishes a framework for cooperation in three key areas–carbon capture and sequestration, water and bio-fuels, and building technology. The agreement opens the door for scientific and technical exchanges and joint research and development of clean energy technologies.
Read more information about the Masdar Initiative at the link below.
Loading...