Evergreen Solar (ESLR) Getting Low Interest Financing
In an attempt to spur the export of US made solar products, Evergreen Solar (ESLR) is getting a boost from the Export-Import Bank of the US which is providing low interest financing(4.9% fixed over 18 yrs) for overseas projects using ESLR panelsproduced domestically. ESLR currently has 90MW of projects in varyingstages of the loan app process with the bank which will cover 85% ofthe product cost and up to 30% of installation costs.
“At a time when many companies are struggling to attain credit forcapital expenditures in a difficult financial market, the Ex-Im Bank’soffice of renewable energy has been extremely helpful in offering asignificant financing tool for our international partners which greatlyassists us in our continued business success outside of the U.S.,” saidTerry Bailey, Evergreen Solar’s senior vice president of sales andmarketing. “Our international customers have been very enthusiasticabout this added benefit we can offer them as a U.S. manufacturer.”
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