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 | Mar 9, 2018
Designing healthier buildings: Fitwel certification system
The Fitwel certification system is relatively simple and involves registering a building on a custom scorecard.
Architects | Mar 7, 2018
Balkrishna Doshi named 2018 Pritzker Laureate
Over the course of 70 years, Doshi was instrumental in shaping the discourse of architecture throughout India, from low-cost housing for thousands to landmark projects like the Indian Institute of Management.
Architects | Mar 7, 2018
New National Building Museum exhibit explores the architecture of the Manhattan Project
The exhibit will run through March 3, 2019.
Architects | Feb 27, 2018
But first, let me take a selfie: Designing sharable moments
The concept of “selfie walls” has been around for years, but with their growing popularity they have begun to evolve and take on a life of their own.
Market Data | Feb 27, 2018
AIA small firm report: Half of employees have ownership stake in their firm
The American Institute of Architects has released its first-ever Small Firm Compensation Report.
Museums | Feb 26, 2018
*UPDATED* Design team unveils plans for the renovated and expanded Gateway Arch Museum
The goal of the project is to create closer and more robust connections between the Gateway Arch Museum and the landscape of the Jefferson National Expansion Memorial.
Architects | Feb 23, 2018
AIA elevates 152 members and two international architects to the College of Fellows
AIA Fellowship recognizes significant contributions to profession of architecture and society.
Airports | Feb 21, 2018
Terminal Modernization: Why Bother? Part II
This is the second post in our series examining why airport operators should bother to upgrade their facilities, even if capacity isn’t forcing the issue.
Urban Planning | Feb 21, 2018
Leading communities in the Second Machine Age
What exactly is the Second Machine Age? The name refers to a book by MIT researchers Erik Brynjolfsson and Andrew McAfee.
Retail Centers | Feb 20, 2018
Is there a future in retail banking? Part II
It is critical to not view the physical branch as just another sales channel, but as an important touchpoint along a customer’s journey.
