News

WASHINGTON - Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today hosted a teleconference roundtable discussion with 260 business owners and stakeholders in the U.S. renewable energy sector. The event was the first in a series as part of EXIM's "Strengthening American Competitiveness" initiative, which will provide stakeholder input to EXIM's new Program on China and Transformational Exports.

On the call, Chairman Reed highlighted how EXIM's new Program on China and Transformational Exports, which focuses on many sectors including renewable energy, can support American businesses as they compete with China in a fast-changing global economy. Chairman Reed and senior staff also heard from stakeholders about how EXIM could best support their "Made in the U.S.A." exports and the jobs that make them possible.  

"With EXIM's new Program on China and Transformational Exports, EXIM has the opportunity to provide support to the U.S. renewable energy sector. I thank all of the renewable energy executives who shared their insights, especially as their companies compete in the global marketplace," said Chairman Reed. "China's unfair trade practices cannot be ignored and, by advancing U.S. leadership in this sector as Congress has instructed EXIM to do, we meet the challenge posed by China head-on while supporting American jobs."

"China's predatory economics pose challenges for U.S. exporters selling their products and services abroad. EXIM helps level the playing field for American renewable energy companies as they compete internationally, thereby advancing U.S. economic security," said EXIM Senior Vice President for the Program on China and Transformational Exports, David Trulio.

EXIM Board Member Judith Pryor and Renewable Energy and Environmental Exports Officer Craig O'Connor also updated participants on EXIM's renewable energy priorities.

"According to the International Energy Agency, renewable energy technologies will experience the fastest growth in the power sector globally, providing almost 30 percent of demand in 2023," said Judith D. Pryor, the member of EXIM's Board of Directors with outreach responsibilities for the renewable energy sector. "Climate change continues to be a threat, so EXIM has the opportunity to lean in and help American businesses take advantage of these lucrative growth markets. Today's conversation will help us determine the tools needed for U.S. renewable energy, energy storage, and energy efficiency exporters to compete and win globally."

Also giving remarks in the roundtable discussion were:

• Richard Romero, Vice President of Project Finance, First Solar
• Philippe Delleville, Vice President, Siemens Gamesa Renewable Energy
• Hugh McDermott, Senior Vice President of Business Development and Sales, Energy Storage Systems Inc.
• Steven Wilburn, CEO, VerdeWatts
• Svetoslav Gatchev, Managing Director, Delphos International

"At a time when Americans are ready to get back to work and revive our economy, the clean energy sector should lead the way," said Heather Reams, Executive Director of Citizens for Responsible Energy Solutions. "EXIM can spur that growth by encouraging and facilitating clean energy exports."

"Maintaining and expanding the U.S.'s leadership in renewable energy is an economic and strategic imperative for our country," said Rodney Ferguson, President and CEO of Winrock International and a member of EXIM's Advisory Committee. "With renewable energy use growing much faster over the past decade than originally projected, and predictions of even faster growth in the decades ahead, renewable energy infrastructure and technology exports represent a tremendous opportunity for U.S. businesses."

"EXIM can lead the world's Export Credit Agencies in spurring sustainable, private sector-led growth overseas and thus supporting employment and innovation in the US," said Slav Gatchev, Managing Director of Delphos International, Ltd., a U.S. small business that raises financing for emerging market projects. "We salute EXIM's willingness to launch new products and reimagine its programs and operations to make them more flexible and attractive to US exporters and their global buyers in today's integrated and competitive economy."

In addition to setting forth the Program on China and Transformational Exports, EXIM's historic 2019 reauthorization set a goal for EXIM to ensure that not less than five percent of EXIM's total financing authority is made available for the financing of renewable energy, energy efficiency, and energy storage.

More information on EXIM's "Strengthening American Competitiveness" initiative, including a full schedule of teleconferences, can be found here.

ABOUT EXIM:

EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, approximately 90 percent of the total number of the agency's authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.

For more information about EXIM, please visit www.exim.gov.