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
| May 25, 2011
Low Impact Development: Managing Stormwater Runoff
Earn 1.0 AIA/CES HSW/SD learning units by studying this article and successfully passing the online exam.
| May 25, 2011
Register today for BD+C’s June 8th webinar on restoration and reconstruction projects
Based on new and award-winning building projects, this webinar presents our “expert faculty” to examine the key issues affecting project owners, designers and contractors in case studies ranging from gut renovations and adaptive reuses to restorations and retrofits.
| May 25, 2011
Hotel offers water beds on a grand scale
A semi-submerged resort hotel is the newest project from Giancarlo Zema, a Rome-based architect known for his organic maritime designs. The hotel spans one kilometer and has both land and sea portions.
| May 25, 2011
Smithsonian building $45 million green lab
Thanks to a $45 million federal appropriation to the Smithsonian Institution, the Smithsonian Environmental Research Center in Edgewater, Md., has broken ground on what is expected to be one of the most energy-efficient laboratories in the country. The 69,000-sf lab is targeting LEED Gold and is expected to use 37% less energy and emit 37% less carbon dioxide than a similar building.
| May 25, 2011
World’s tallest building now available in smaller size
Emaar Properties teamed up with LEGO to create a miniature version of the Burj Khalifa as part of the LEGO Architecture series. Currently, the LEGO Burj Khalifa is available only in Dubai, but come June 1, 2011, it will be available worldwide.
| May 25, 2011
Developers push Manhattan office construction
Manhattan developers are planning the city's biggest decade of office construction since the 1980s, betting on rising demand for modern space even with tenants unsigned and the availability of financing more limited. More than 25 million sf of projects are under construction or may be built in the next nine years.
| May 25, 2011
Olympic site spurs green building movement in UK
London's environmentally friendly 2012 Olympic venues are fuelling a green building movement in Britain.
| May 25, 2011
TOTO tests universal design at the AIA conference
If you could be 80 years old for 30 minutes—and have to readjust everything you think you know about your own mobility—would you do it?
