US bank lends to Peru projects

The US Export-Import Bank has authorized a pair of direct loans totaling almost $65m to two wind projects in Peru for which Siemens will supply American-made turbines.

The Marcona and Tres Hermanas projects located in close proximity in the Ica region of southern Peru together will have 129MW nameplate generation capacity.

Repayment terms are 17.3 years for the Marcona project and 16.6 years for the Tres Hermanas project, respectively.

The bank says the loans are its first for renewable energy in Peru and will support 800 jobs at Siemens’ nacelle plant in Hutchinson, Kansas, and blade factory in Fort Madison, Iowa.

Additionally, 20% of each transaction should provide indirect support to small-business exporters.

Chief executive Fred Hochberg says the transactions are part of Ex-Im Bank’s continued commitment to increasing US renewable energy exports while supporting good-paying domestic jobs.

Siemens previously had exported American-made wind turbines to Brazil, Canada and Chile.