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
| Sep 4, 2013
Augmented reality goes mainstream: 12 applications for design and construction firms
Thanks to inexpensive mobile devices and increasingly advanced software apps, Building Teams are finally able to bring their BIM models to life on the job site.
| Sep 4, 2013
K-12 school design that pays off for students
More and more educators are being influenced by the Reggio Emilia approach to pedagogy, with its mantra of “environment as the third teacher”—an approach that gives Building Teams a responsibility to pay even closer attention to the special needs of today’s schools.
| Sep 4, 2013
Smart building technology: Talking results at the BUILDINGChicago/ Greening the Heartland show
Recent advancements in technology are allowing owners to connect with facilities as never before, leveraging existing automation systems to achieve cost-effective energy improvements. This BUILDINGChicago presentation will feature Procter & Gamble’s smart building management program.
| Sep 4, 2013
Last chance to pre-register for BUILDINGChicago/Greening the Heartland Conference at 20% savings
Attendees of the BUILDINGChicago/Greening the Heartland Expo and Conference can still save 20% off the at-site registration fee by registering online in these final days before the event opens on September 9 and concludes on September 11.
| Sep 3, 2013
'School in a box' project will place school in San Diego public library
Thinking outside the box, LPA Inc. is designing a school inside a box. With an emphasis on three E’s—Engage, Educate, and Empower—e3 Civic High is now being constructed on the sixth and seventh floors of a public library in downtown San Diego. Library patrons will be able to see into the school via glass elevators, but will not have physical access to the school.
| Sep 3, 2013
Delinquency rate for commercial real estate loans at lowest level in three years
The delinquency rate for US commercial real estate loans in CMBS dropped for the third straight month to 8.38%. This represents a 10-basis-point drop since July's reading and a 175-basis-point improvement from a year ago.
| Sep 3, 2013
EDGE studio, GBBN announce merger
GBBN Architects and EDGE studio of Pittsburgh, Pennsylvania are very pleased to announce the merger of their firms under GBBN Architects effective September 1, 2013.
| Sep 3, 2013
Jon Pettit (1952-2013) - DLR Group Managing Principal
Jonathan (Jon) E. Pettit, AIA, died August 19, 2013 in Seattle following treatment for cancer. He was 61. Pettit was a DLR Group managing principal and practiced for his entire professional career with DLR Group.
| Aug 30, 2013
Modular classrooms gaining strength with school boards
With budget, space needs, and speed-to-market pressures bearing down on school districts, modular classroom assemblies are often a go-to solution.
| Aug 30, 2013
Local Government Report [2013 Giants 300 Report]
Building Design+Construction's rankings of the nation's largest local government design and construction firms, as reported in the 2013 Giants 300 Report.
