US Exim has approved two direct loans totalling almost US$65mn to finance the export of wind turbines to Peru.

The loans represent US Exim’s first renewable energy-related transactions in Peru, with repayment terms of 17.3 years and 16.6 years respectively. The first will provide turbines to the Marcona wind project and the second for the Tres Hermanas wind project, both near the Ica region in the south of the country.

The turbines will be manufactured by US-based Siemens Energy, at two factories in Kansas and Iowa. Commenting on the transaction, CEO of Siemens Onshore Wind Americas, Mark Albenze, says: “Being able to export our equipment with US Exim’s help has helped support more than 800 manufacturing jobs at a time when the US wind market continues to be beleaguered by policy uncertainty.”

Chairman and president of US Exim, Fred Hochberg, has highlighted the bank’s commitment to wind energy. “During this fiscal year alone, US Exim has approved financing for five wind farm projects, and we are looking to do more in the future,” he says.

US Exim committed US$257mn to renewable energy exports, mainly to Central and Latin America, in FY 2013 alone. “These latest transactions reflect our continued commitment to increasing US renewable energy exports,” adds Hochberg.

The news comes as Barack Obama, the US President, made efforts to emphasise the continued value of US Exim this week.

In a weekly address from the White House, Obama urged American constituents to encourage members of congress to renew the US Exim charter when it expires next month, saying that Americans should be doing everything they can to accelerate the progress of US exports.

“If you’re a small business owner or employee of a large business that depends on financing to tackle new markets and create new jobs, tell them [members of congress] to quit treating your business like it’s expendable,” said Obama. “Keep America’s exports growing and keep America’s recovery going.”

“Over the past five years, we’ve worked hard to open new markets for our businesses, and to help them compete on a level playing field in those markets,” he added.