12 July 2005 - The US Export-Import Bank (Ex-Im Bank) will now offer export financing on repayment terms of up to 15 years for US exports of goods and services used in certain renewable energy projects.

Ex-Im Bank board member Linda Conlin, who heads the bank's Environmental Exports programme, said: "We believe that this enhancement further strengthens the ability of US environmental exporters to compete internationally, and it will help to support highly skilled US jobs in these industries."

The industries eligible for the new 15-year repayment term are wind, solar, photovoltaic, solar thermal, geothermal, ocean thermal, tidal and tidal stream power, wave power and bio-energy.

Rhone Resch, president of the Solar Energy Industries Association, said: "Progressive export financing terms are essential for US companies to remain competitive in the global solar industry, which is currently growing at 45 per cent each year."