The 500kW project is owned by Mexican company Grupo Metal Intra (GMI) with its subsidiary Intragreen TecnologÃa Sustenable to execute installation and grid connection.
Suniva secured a 10-year loan from UPS Capital Business Credit to finance the export which will now be secured by the EXIM Bank’s medium-term buyer financing, available to smaller-scale renewable-energy in Mexico.
Ex-Im Bank chairman and president Fred Hochberg commented that this financing will allow considerable clean-energy savings to GMI.
"We hope to support many more such projects in Mexico and around the world," Hochberg said.
The bank will also support approximately $130,000 of related local costs for the project.
Suniva’s modules will be installed on the roof of GMI’s main production plant in the city of Querétaro and cater to 50% of the facility’s electricity requirements.
The solar installation will help GMI reduce annual energy costs by 15%, besides reducing 677t of CO2 emissions.
