Evelution Energy LLC (“EVelution Energy” or the “Company”) is pleased to announce that it has received a non-binding Letter of Interest (“LOI”) from the Export-Import Bank of the United States (“EXIM“) for a loan of up to $200 million, with tenor of 18 years, to fund the construction and operation of its solar-powered cobalt production facility in Yuma County, Arizona.
This debt facility is being extended to EVelution Energy under EXIM’s Make More in America initiative (MMIA), and may be eligible for special consideration under EXIM’s China and Transformational Export Program (CTEP). Under CTEP,EXIM Bank can take steps to mitigate the competitive impact of export support provided by the People’s Republic of China (“PRC”) and other covered countries, in order to accelerate the comparative leadership of the United States in certain Transformation Export Areas, like Renewable Energy, Storage & Efficiency.
Read more in EIN Presswire here.
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