April 10, 2012
/PRNewswire-USNewswire/ -- Northern Power Systems (NPS), a company that designs, manufactures and sells wind turbines to the global marketplace from its headquarters in
, will receive the Renewable-Energy Exporter of the Year award from the Export-Import Bank of
the United States
(Ex-Im Bank). The award will be presented at the Bank's 37th Annual Conference, "Ex-Im –Your Competitive Edge," on
"Northern Power Systems is a great example of an innovative company that is creating American jobs by helping other nations meet their energy needs," said
Fred P. Hochberg
, chairman and president of the Ex-Im Bank. "Ex-Im's financing for renewable energy projects exceeded
last year, and the Bank remains committed to supporting U.S. exports in this vital sector."
NPS exports its NPS 100 wind turbines for installation into European Feed-in-Tariff (FIT) wind-farms and into hybrid power applications, where wind energy offsets expensive diesel-generated electricity. Recently, NPS used Ex-Im Bank's Renewable Express financing to export 55 of its 100 kW wind turbines for FIT projects in
. These distributed wind turbines are installed in independent wind farms to generate power for local commercial use and to supply electricity to the power grid. The sale is the largest U.S. export of community-scale wind turbines to any country, and it is the first time that Ex-Im Bank has assisted in financing such a wind-power project on a project-finance basis.
guaranteed a total of
in euro-denominated loans from RB International (
) LLC of
. The financing helped NPS compete against foreign suppliers backed by their governments' export-credit agencies.
"Ex-Im Bank helps NPS successfully compete in global markets by allowing us to offer customers very attractive project financing," said
John P. Danner
, President and CEO of Northern Power Systems. "We are looking forward to expanding our relationship with Ex-Im beyond
and numerous other markets."
More than 15 jobs are being directly supported by these transactions at the
production facility and approximately 45 additional jobs in the company's supply chain.
has more than doubled authorizations for exports related to renewable energy to
in FY 2011 from
in FY 2010. The Bank's support for these exports had tripled between FY 2009 and FY 2010.
's 2012 Annual Conference will feature prominent members of the business and government community including President
, Founder, William J. Clinton Foundation and 42nd President of
the United States
; Mayor of Chicago Rahm Emanuel;
, director of the Earth Institute at
; Commerce Secretary
, co-founder and managing director of The Carlyle Group; and
, president and CEO of Black & Veatch's global energy business. A full listing of speakers, panelists, and moderators is available on Ex-Im's website.
About Ex-Im Bank: