CSP World

The Export Import Bank of the United States (Ex-Im Bank) has announced it has authorized a couple of direct loans to Spanish company Abengoa. The loans, totaling $33.6 million, will allow Abengoa to purchase heat transfer oil (HTF) for a pair of concentrated solar power plants in Spain and a third in South Africa.

The chosen supplier for these projects has been Dow, a subsidiary of The Dow Chemical Company. Abengoa had filled the tubes of most of its CSP plants with Therminol VP-1, the commercial brand of the HTF supplied by Solutia, an Eastman subsidiary.

Dowtherm A, the commercial version distributed by Dow has also been used in a large number of CSP plants. In fact, Dow and Solutia are the main providers, both companies are estimated to cover more than 90% of the sector.

The Solaben 1 and 6, both 50 MW parabolic trough plants, are nearly completion in south western Spain while Kaxu Solar One is a 100 MW plant under construction at the Norhern Cape region in South Africa. More info about the projects is available at the map provided by CSP World here csp-world.com/cspworldmap

Headquartered in Midland, Michigan, The Dow Chemical Company, and its consolidated subsidiaries (Dow), delivers a broad range of technology-based products and solutions through the production, marketing, and sales of specialty chemicals and advanced materials and plastics. Dow operates manufacturing sites in 36 countries and employs approximately 54,000 people.

"Ex-Im Bank's consistent support of renewable-energy projects demonstrates our commitment to supporting high-skilled jobs in an important homegrown industry and improving the environment," said Ex-Im Bank Chairman and President Fred P. Hochberg. "In addition to contributing to cleaner sources of energy and supporting U.S. jobs, these two transactions will support President Obama's goal of doubling access to power in sub-Saharan Africa."

According to estimates from the bank, about 200 US jobs will be supported thanks to this financing operation.