Suniva Inc., a metro-Atlanta based manufacturer of high-quality, high-efficiency crystalline silicon solar cells and modules, and the Export Import Bank (Ex-Im Bank) of the United States have been working together since 2007. Suniva has benefitted from the Ex-Im Bank’s buyer financing and working capital guarantees to support its exports to global markets.
Most recently, Suniva announced that Ex-Im Bank will guarantee a $780,000, 10-year loan to be made by UPS Capital Business Credit to finance the export of Suniva’s photovoltaic (PV) solar to a rooftop solar-power project of Grupo Metal Intra S.A.P.I. de C.V. (GMI).
“High-quality American solar products are coveted in many emerging markets. In these markets where there is an abundance of sun, and power is unreliable and/or expensive, solar power is particularly attractive,” said John Baumstark, chief executive officer of Suniva.
“It is critical for American companies to export to help strengthen our economy, and U.S. Ex-Im Bank has been instrumental in providing unique products that enhance the competitiveness of American companies around the world. It is most fitting that the first major export and installation of our modules in Mexico is utilizing a guarantee from the U.S. Export-Import Bank with which we have a longstanding and valuable relationship,” said Baumstark.
“Exporters for Ex-Im” is a blog series focused on the importance of the Export-Import Bank to manufacturers. To learn more or to tell Congress you support reauthorization of the Export-Import Bank, visit http://www.nam.org/Issues/Trade/Ex-Im-Bank.aspx.