Washington, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) has authorized a $66.3 million guarantee in favor of UPS Capital Business Credit’s loan to Bis Enerji Elektrik Uretim AS (Bis) of Turkey for the export of American power-generation equipment to the Republic of Turkey.
Ex-Im Bank’s financing will support more than 160 American jobs in Houston, Texas; Wellsville, N.Y.; Orlando, Fla.; and Lewiston, Maine. “
Ex-Im Bank’s loan guarantee affords the U.S. companies involved in the transaction an opportunity to export their American-made products to a Turkish market hungry for electricity,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “Equally important is the loan guarantee’s impact on American jobs, which will benefit from the increased business.”
Bis will employ the new equipment at its power plant in Bursa, Turkey, to expand its current electricity-production capacity by 76 megawatts. The project will convert a pre-existing simple-cycle turbine into a combined-cycle operation that will rely upon a steam turbine heat recovery steam generator. Ex-Im Bank supported four previous expansions of the plant’s output.
Click here to read the full bulletin from the US Ex-Im Bank.