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 and service providers over a period of five years. Since then, Ex-Im Bank has financed $760 million in three Reliance Power renewable energy transactions supporting 165 megawatts of solar and 2400MWs of gas.
U.S. companies potentially involved in the transaction include AREVA Solar Inc. (Mountain View, Calif.); E.I. DuPont de Nemours and Co. (Wilmington, Del.); Clifford Chance Rogers Wells LLP (Washington, D.C.); 3M Company (St. Paul, Minn.); Sika Corp. (Lyndhurst, N.J.); CCI Corp. (Tulsa, Okla.); Certainteed Corp. (Valley Forge, Pa.); Huck International Inc. (Waco, Texas); and Weed Instrument Company Inc. (Round Rock, Texas). BD+C
Related Stories
Architects | Jan 29, 2020
Frank Lloyd Wright’s architecture school is closing
The school was established in 1932.
Libraries | Jan 23, 2020
Information or community center: The next generation of libraries must be both
Are libraries still relevant in a digital world?
Green | Jan 10, 2020
How the new EC3 tool raises the bar on collective action
Nearly 50 AEC industry organizations partnered to develop the groundbreaking Embodied Carbon in Construction Calculator.
Architects | Jan 9, 2020
AIA selects recipients for the 2020 Regional & Urban Design Awards
The 2020 Regional & Urban Design program recognizes the best in urban design, regional and city planning and community development.
Building Technology | Jan 7, 2020
Tariff whiplash for bifacial solar modules
Bifacial solar systems offer many advantages over traditional systems.
Sponsored | HVAC | Jan 6, 2020
Maximize Energy Efficiency in Class A Office Buildings With Modern Building Systems
Energy-efficient building design starts with the building envelope, but the building systems have a tremendous impact on energy use as well.
Life of an Architect Podcast | Jan 6, 2020
5 most popular Life of an Architect podcast episodes of 2019
Architects Bob Borson, FAIA, and Andrew Hawkins, AIA, LEED AP, produced 25 episodes of the Life of an Architect podcast in 2019. Here are the five most popular episodes of Life of an Architect based on the number of downloads.
Architects | Jan 6, 2020
Merger expands HED’s presence in SoCal
Puchlik Design Associates, its new addition, specializes in healthcare design.
Steel Buildings | Jan 3, 2020
5 reasons to enter the $20,000 Forge Prize
Calling all emerging architects. Don’t miss out on your chance to enter the $20,000 Forge Prize. Submissions for Stage 1 judging are due January 15.
GIANTS 19 PREMIUM | Dec 23, 2019
Top 90 Sports Facilities Architecture Firms for 2019
Populous, HKS, HOK, Gensler, and HNTB top the rankings of the nation's largest sports facilities sector architecture and architecture engineering (AE) firms, as reported in Building Design+Construction's 2019 Giants 300 Report.