US Export Bank to Support Ocean Renewables

Here's a link to a press release entitled SUPPORT U.S. EXPORTS FOR RENEWABLE ENERGY AND WATER PROJECTS (July 12, 2005) that reports that the Export-Import Bank of the United States (Ex-Im Bank) is now offering export financing on repayment terms of up to 15 years for U.S. exports of goods and services to be used in certain renewable energy and water projects. Effective as of July 1, the longer repayment terms are available in accord with an agreement of the Organization for Economic Cooperation and Development (OECD) that permits export credit agencies of OECD countries to offer enhanced terms for renewable energy and water projects. Eligible for the 15-year repayment term are U.S. exports for the following renewable energy projects: wind, solar photovoltaic, solar thermal, geothermal, ocean thermal, tidal and tidal stream power, wave power, and bio-energy.

Perhaps this new loan policy will help US developers of ocean technology to export their products abroad.