15 Apr '12, 10am

Ex-Im Bank Approves $80 Million in Export Financing for Solar Project in India

Washington, D.C. – Supporting U.S. jobs at companies in eight states, the board of directors of the Export-Import Bank of the United States (Ex-Im Bank) approved an $80.32 million direct loan for the purchase of concentrated solar power technology by Reliance Power, Ltd. in Rajasthan, India. The project, "Rajasthan Sun Technique Energy Private Limited," is a subsidiary of Reliance Power and is being co-financed by the Asian Development Bank and FMO, the Dutch development bank. While accompanying President Obama on his trip to India in November, 2010, Ex-Im Bank Chairman and President Fred P. Hochberg signed a $5 billion Memorandum of Understanding (MOU) with Anil Ambani, Chairman of Reliance Power. The MOU proposed the purchase of 900 megawatts of renewable energy generating equipment, in addition to the purchase of 8,000MWs of gas-fired technology from U.S. manufacturers ...

Full article: http://www.altenergymag.com/news_detail.php?pr_id=24180#....

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Washington, D.C. – Supporting U.S. jobs at companies in eight states, the board of directors of the Export-Import Bank of ...

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