Siemens today welcomed Export-Import Bank of the United States (EXIM Bank) Chairman Fred Hochberg to the company’s Wind Service Training Center (WSTC) in Orlando, which serves as a hub for Siemens’ energy businesses. During a tour of the WSTC, Chairman Hochberg and Siemens Power Generation Services CEO Randy Zwirn highlighted EXIM’s importance to supporting jobs and boosting renewable energy exports.
In 2015, Siemens was honored as EXIM Bank’s “Deal of the Year” and “Renewable Exporter of the Year” for two wind projects the bank helped finance in Peru. EXIM Bank authorized a pair of direct loans totaling nearly $65 million for the Tres Hermanas and Marcona wind farms (with an estimated aggregate of 129 megawatts) in the Ica region of southern Peru, the bank’s first renewable energy transactions in that country. The wind blades and geared nacelles for these projects were produced at Siemens wind energy factories in Iowa and Kansas. With a long-term service and maintenance agreement included, wind service technicians who maintain the turbines train at Siemens’ WSTC in Orlando.
“As a major exporter in the United States, we’re pleased to welcome Chairman Hochberg to Siemens,” said Zwirn, who previously served as a member of EXIM Bank’s advisory board. “EXIM Bank has played an essential role in providing competitive financing for several major equipment purchases from Siemens’ U.S. factories, helping to support jobs and boost exports. With a long-term commitment to growing our export business, particularly in the area of renewable energy, we are pleased that EXIM Bank will continue to be a resource for our customers.”
“EXIM’s work with Siemens over the years reflects our continued commitment to increasing U.S. renewable energy exports while supporting good-paying jobs through the small business supply chain here at home,” said Hochberg, Chairman and President of EXIM Bank. “Siemens continues to build a strong manufacturing presence in the U.S. which is key in helping strengthen American competitiveness and exports.”
In addition to the renewable energy projects in Peru, EXIM Bank financing has helped Siemens’ customers finance the purchase of power generation equipment and components, water treatment solutions, and health care systems.
Orlando is the global hub for Siemens Power Generation Services division, as well as the Americas hub for Siemens Wind Power and Renewables division and the Power and Gas division. Siemens state-of-the-art Wind Service Training Center is one of four such facilities for Siemens globally, with instructors providing highly advanced technical and safety training for installation and service technicians working at wind energy projects located throughout the Americas region.
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About Siemens USA
Siemens Corporation is a U.S. subsidiary of Siemens AG, a global powerhouse focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of systems for power generation and transmission as well as medical diagnosis. With approximately 348,000 employees in more than 190 countries, Siemens reported worldwide revenue of $86.2 billion in fiscal 2015. Siemens in the USA reported revenue of $22.4 billion, including $5.5 billion in exports, and employs approximately 50,000 people throughout all 50 states and Puerto Rico.
About EXIM Bank
EXIM Bank is an independent federal agency that supports and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees and export credit insurance, to promote the sale of U.S. goods and services abroad. Nearly ninety percent of its transactions directly serve American small businesses.
In fiscal year 2015, EXIM Bank approved $12 billion in total authorizations. These authorizations supported an estimated $17.7 billion in U.S. export sales, as well as approximately 109,000 American jobs in communities across the country.