First Solar receives Ex-Im bank boost

Share

While controversy surrounds U.S. photovoltaic manufacturers' failures, and in particular the support they received in form of government loan guarantees, the Export-Import bank has continued to support American solar exports. Two loans have been granted to companies developing three power plants that will use U.S.-made First Solar modules.

One loan will be made to Kiran Energy Solar Private Power, which will receive $23 million for a 20 MW power plant in the state of Rajasthan. Mahindra Surya Prakash has also had a $34.3 million loan approved, for two photovoltaic power plants also in Rajasthan, worth 20 MW and 10 MW. First Solar CdTe thin film modules, manufactured at the company’s Ohio facility, will be used to supply both projects.

In a statement announcing the loans, Ex-Im Bank Chairman and President Fred Hochberg said the bank will be supporting India’s green-energy push. "These important transactions will finance the purchase of American products and services and support jobs in our innovative renewable-energy sector," Hochberg said.

To date, the Ex-Im bank has provided more than $330 million for the financing of solar projects in India and in 2012, approximately $380 million for U.S. renewable energy exports worldwide.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

U.S. startup offers meter socket adapter that simplifies solar, battery, EV charging connection

04 December 2024 ConnectDER has secured $35 million in Series D funding to support its meter socket adapter (MSA) business, which integrates solar, storage, EV chargin...

Share

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.