Belgium’s KBC Bank is providing an export credit agency-backed €7.7mn (US$10.3mn) long tenor loan to Belgian energy company Enerdeal.

The 18-year loan will finance the purchase of solar panels for a three megawatt distribution centre from US renewables firm Solyndra.

The deal is guaranteed by the Export Import Bank of the US as part of the ECA’s renewable express programme.

Under the programme, it took 41 days from receipt of completed application to approval of loan guarantee.

“This project benefited from the fast due diligence process may possible by US Ex-Im’s renewable express programme,” says John Scott, Solyndra’s vice-president of global project finance and business development.