The Export-Import Bank of the US (Ex-Im Bank) has approved a loan of $32.1m to Wind Power Energia to buy turbine blades for two wind projects in the Brazilian states.
The company will buy the blades from LM Wind Power to use them to complete the 181MW wind project located in the state of Bahia and a 211MW farm in Ceara.
The loan is expected to result in 250 permanent jobs at LM Wind’s manufacturing facilities in Little Rock, Arkansas, and Grand Forks, North Dakota.
Ex-Im Bank chairman and president Fred P Hochberg said the Bank’s loan guarantee will facilitate the export of American-made products to one of our nine key markets at a critical time.
"By doing so, it will simultaneously support American jobs in a valuable industry and boost Brazil’s clean-energy prospects," Hochberg added.
LM Wind Power Americas commercial director Richard Pettifor said the company welcomes the vision and assistance of Ex-Im Bank, which has enabled it to develop a new and growing market opportunity for wind-turbine blades in Brazil.
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By GlobalData"As well as developing the Brazilian renewable-energy market and overall production capacity, it will also support the prospect of long-term growth in LM Wind Power’s America business with approximately 250 permanent green-energy jobs in Arkansas and North Dakota," Pettifor added.
US based LM Wind Power Blades is a manufacturer of wind blades while the Brazilian company Wind Power Energia, a subsidiary of Industrias Metalurgicas Pescarmona, designs and manufactures wind turbines for power projects.
