US Ex-Im Bank is now offering 15-year repayment terms for US exports of goods and services for hydroelectric power projects that are in compliance with the bank’s environmental procedures and guidelines.
The increased repayment terms are also available for US exports relating to the following renewable energy projects: wind, solar photovoltaic, solar thermal, geothermal, ocean thermal, tidal and tidal stream power, wave power, and bio-energy. Also eligible for the 15-year term are US exports for water and wastewater projects.
The increase in terms follows the OECD decision to allow member countries “export credit agencies to offer enhanced terms for renewable energy and water projects.
The OECD agreement permits the 15-year term for renewable energy and water-related projects for a two-year trial period beginning July 1, 2005, while the two-year trial period for hydropower projects got underway on December 1, 2005.