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June 14, 2011 > Ex-Im Bank facilitates Solyndra's solar exports

Ex-Im Bank facilitates Solyndra's solar exports

Submitted By Linda Formella

Fremont-based Solyndra LLC, a manufacturer of photovoltaic systems, is using Renewable Express project financing from the Export-Import Bank of the United States (Ex-Im Bank) to facilitate the sale of its solar panels to a private-sector project in Belgium.

Ex-Im Bank is guaranteeing an 18-year Û7.7M loan (USD $10.3M) provided by KBC Bank NV in Belgium to finance the sale of Solyndra's solar panels for a three-megawatt roof-top photovoltaic project. This is the company's first transaction with Ex-Im Bank and its largest rooftop solar project globally to date.

Project integrator is U/S/E AG based in Reutlingen, Germany, through its Belgian subsidiary, Enerdeal. The solar panels are being used to provide energy for an international supermarket chain's (Delhaize) distribution center located in Zellik, a suburb of Brussels.

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