US bank to fund Indian solar projects

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Two Indian solar projects are receiving a total of $103.2 million in financing from the Export-Import Bank of the United States.

A statement released by the bank stated that these two approvals in the final months of fiscal year 2011 bring the bank’s total financing for Indian solar projects in FY2011 to $176.4 million.

The projects called Dahanu Solar Project in Jaisalmer district and Tatith Project in Gujarat are thin-film solar-power plant and photovoltaic crystalline power projects respectively.

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“India is making a big push for renewable energy,” Fred P. Hochberg, chairman, Ex-Im Bank said. “Solar companies in the United States know that if they can get into this growing market, they have a bright future ahead of them. Ex-Im Bank stands ready to help our exporters win that future.”

The last two loans approved by the Bank are for a 40 MW and 5 MW project in Rajasthan and Gujarat, respectively.

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