Washington, May 30, 2012 —U.S. green-technology suppliers are benefiting from a $48.6 million loan from the Export-Import Bank of the United States (Ex-Im Bank) supporting exports of equipment and services for the development of the Novo Gramacho biogas project in Brazil.
FirmGreen Inc., a small renewable-energy company based in Newport Beach, Calif. estimated that the Novo Gramacho project directly generated 165 new jobs at its facilities and at other companies in seven states: Indiana, Wisconsin, Ohio, California, Michigan, Missouri and Texas.
Ex-Im’s 12-year loan is vital because long-term financing for renewable-energy projects is limited in Brazil.
The loan borrower, Gas Verde S.A., is the project owner and will operate the Novo Gramacho biogas plant located at the 140-hectare Jardim Gramacho landfill near Rio de Janeiro. The biogas plant will convert the site’s methane gas into clean, usable biomethane gas.