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 1, 2017
Rafael Aranda, Carme Pigem and Ramon Vilalta receive the 2017 Pritzker Architecture Prize
2017 marks the first time that three architects together are honored with the prize.
Architects | Feb 27, 2017
AIA selects four individuals to receive the 2017 Associates Award
The AIA Associates Award is given to individual Associate AIA members to recognize outstanding leaders and creative thinkers for significant contributions to their communities and the architecture profession.
Architects | Feb 24, 2017
14 architects selected to receive the 2017 Young Architects Award
Young Architects are defined as professionals who have been licensed 10 years or fewer regardless of their age.
Architects | Feb 20, 2017
Take an architecture class taught by Frank Gehry
The starchitect will be teaching a course for MasterClass, an online education platform.
Architects | Feb 16, 2017
16 design trends from Gensler’s 2017 Design Forecast
Gensler examines how design will shape the human experience in the next year and beyond.
Architects | Feb 14, 2017
NCARB streamlines path to certification for architects
Architects without a degree from an accredited program can pursue NCARB certification through a new path.
Designers | Feb 1, 2017
Netflix design documentary series to feature Bjarke Ingels
Abstract: The Art of Design will delve into the artistic processes of various influential designers.
Architects | Jan 27, 2017
The Enterprise Rose Architectural Fellowship and Lawrence Scarpa, FAIA, honored with the 2017 Collaborative Achievement Award
Lawrence Scarpa, FAIA and the Enterprise Rose Architectural Fellowship receive the 2017 Collaborative Acievement Award.
Architects | Jan 26, 2017
Alan Greenberger, FAIA, honored with the 2017 AIA Thomas Jefferson Award
The award honors significant contributions to public architecture.
Architects | Jan 24, 2017
Politicians use architectural renderings in bid to sell Chicago’s Thompson Center
The renderings are meant to show the potential of the site located in the heart of the Chicago Loop.