Solyndra using Ex-Im Bank loan guarantees system to support commercial rooftop projects

Last week during Intersolar Europe 2011, Solyndra announced the completion of the largest commercial rooftop to date that has used its cylindrical-CIGS modules. The 3MW project was completed by solar integrator U|S|E AG, a Solyndra Platinum Solution Provider based in Reutlingen, Germany, with its Belgium subsidiary Enerdeal for Delhaize, an international supermarket chain at one of its distribution centres in Zellik, Belguim.
 
The Zellik installation consists of more than 17,000 Solyndra solar modules covering 34,000 square meters of roof space and generates an annual yield of approximately 2,400 MWh, enough to power more than 700 households. U|S|E also added a white Sure-Weld thermoplastic polyolefin (TPO) roof membrane from Carlisle SynTec to reflect light back onto the modules.
 
However, the project is also noteworthy for the finance structures used. For the first time, Solyndra used the Export-Import Bank of the United States (Ex-Im Bank) to facilitate the sale of its modules. Ex-Im Bank is guaranteeing an 18-year €7.7 million loan (U.S. $10.3 million) under its Renewable Express process that was provided by KBC Bank NV in Belgium, which meant the project financing approval was arranged in only 41 days from the receipt of the completed application to approval.
 
"This project benefited from the fast due-diligence process made possible by Ex-Im's Renewable Express program, and it is just the first of several of such projects that we anticipate this year," said John Scott, Solyndra's vice president of Global Project Finance and Business Development. "For U.S. companies, Ex-Im Bank support is a valuable advantage that levels the playing field with other global financing incentives."
 
Solyndra has recently expanded it product portfolio to develop more market opportunities outside the flat rooftop segment, which was Solyndra’s initial target market. 
 
The thin-film manufacturer has developed a unique greenhouse shading system for an untapped but potentially huge agricultural market as well as metal roofs market, via a new non-penetrating mounting system.  
 

Newsletter

Preview Latest
Subscribe
We won't share your details - promise!

Publications

  • Photovoltaics International 23rd Edition

    This issue of Photovoltaics International, our 23rd, offers key insights into some of the technologies that are ready to move from lab to fab in support of these goals. ISC Konstanz offer a glimpse of what the low-cost, high-efficiency solar cells of the future might look like. On page 35 the institute’s authors give an overview of what they call Konstanz’ “technology zoo”, encompassing their so-called BiSoN, PELICAN and ZEBRA cell concepts, all of which are aimed at increasing energy yield at the lowest possible cost.

  • Manufacturing The Solar Future: The 2013 Production Annual

    In the ever-changing global solar markets, cost reduction and measures to increase cell efficiencies are the key tools available to PV manufacturers to create new opportunities and drive your business to the next level. Manufacturing the Solar Future 2013 is the third in the Photovoltaics International PV Production Annual series, delivering the next instalment of in-depth technical manufacturing information on PV production processes designed to help you gain the competitive edge.

Partners

Acknowledgements

Solar Media