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
| Jun 30, 2014
Work starts on Jean Nouvel-designed European Patent Office in the Netherlands [slideshow]
With around 80,000 sm and a budget of €205 million self-financed by the EPO, the complex will be one of the biggest office construction sites ever in the Netherlands.
| Jun 30, 2014
Growth of crowdfunding, public-private partnerships among top trends in architecture marketplace
A new report by the American Institute of Architects highlights several emerging trends in the architecture marketplace, including the growth of the P3 project delivery model and designing for health.
| Jun 30, 2014
Report recommends making infrastructure upgrades a cabinet-level priority
The ASCE estimates that $3.6 trillion must be invested by 2020 to make critically needed upgrades and expansions of national infrastructure—and avoid trillions of dollars in lost business sales, exports, disposable income, and GDP.
| Jun 30, 2014
Gen X, not Baby Boomers, spending the most money on homes [infographic]
It turns out that Generation X, who have the highest incomes of the three generations surveyed, are paying the highest home payments and tend to have the largest households.
| Jun 30, 2014
Zaha Hadid's Iraq Parliament complex design marred with controversy
Zaha Hadid's design for the Iraq Parliament was selected, despite placing third in the original RIBA-organized competition.
Sponsored | | Jun 27, 2014
SAFTI FIRST Now Offers GPX Framing with Sunshade Connectors
For the Doolittle Maintenance Facility, SAFTI FIRST provided 60 minute, fire resistive wall openings in the exterior using SuperLite II-XL 60 insulated with low-e glazing in GPX Framing with a clear anodized finish.
| Jun 26, 2014
Glazing offers peace-of-mind for hurricane season
SPONSORED CONTENT As hurricane season kicks into high gear, it reinforces the importance of balancing the aesthetic and daylight enhancements of glazing with the safety requirements to protect people and structures from hurricane-force winds.
| Jun 26, 2014
Plans for Britain’s newest landmark brings in international cooperation
Designers of the London Eye will team up with companies from France, the Netherlands and the United States to construct i360 Brighton, the U.K.'s newest observation tower.
| Jun 25, 2014
The best tall buildings of 2014
Four high-rise buildings from multiple continents have been selected as the best of their region. The best worldwide tall building will be announced November 6.
| Jun 25, 2014
AIA Foundation launches Regional Resilient Design Studio
The Studio is the first to be launched as part of the AIA Foundation’s National Resilience Program, which plans to open a total of five Regional Resilience Design Studios nationwide in collaboration with Architecture for Humanity, and Public Architecture.
