Greentech Lead India: The Export-Import Bank of the
United States (Ex-Im Bank) has provided two loans totaling $57.3 million to
Solar Field Energy Two and Mahindra Surya Prakash respectively. The financing
will support to export of American made solar panels and ancillary services to
India.
With these loans, both Indian solar developers will
import solar panels form First Solar of
Tempe, Ariz. The solar panels will be used in the construction of solar
photovoltaic plants in Rajasthan, India. These transactions will support 200
U.S. jobs at First Solar’s manufacturing facility in Perrysburg, Ohio.
“These important transactions will finance the
purchase of American products and services and support jobs in our innovative
renewable-energy sector. On top of that, Ex-Im’s financing will contribute to
India’s drive to embrace clean-energy sources,” said Ex-Im Bank Chairman
and President Fred P. Hochberg.
Ex-Im Bank has approved a $23 million loan to Solar Field
Energy Two, a Mumbai-based company wholly owned by Kiran Energy Solar, for the
construction of a 20-megawatt (MW) solar facility in Rajasthan.
Mahindra Surya Prakash, owned by Kiran Energy and
Mahindra Holding, will build two solar facilities (one 20 MW and one 10 MW) in
Rajasthan with the $34.3 million Ex-Im loan
In FY 2011 and FY 2012 to date, the Ex-Im Bank authorized
more than $330 million in financing for Indian solar projects. In FY 2012 to
date, the Bank has authorized approximately $380 million for renewable-energy
exports of all types worldwide.