The Export-Import Bank of the United States has granted an $80.32m loan for the purchase of concentrated solar power technology from American companies by Reliance Power 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.
Under a $5bn deal signed with Ex-Im Bank in 2010, Reliance Power will purchase 900MW of renewable energy generating equipment, and 8,000MWs of gas-fired technology from US manufacturers and service providers over a period of five years.
Untill now, Ex-Im Bank has financed $760m in three Reliance Power renewable energy transactions supporting 165MW of solar and 2400MWs of gas.
US companies involved in the transaction include AREVA Solar, E.I. DuPont de Nemours and Co., Clifford Chance Rogers Wells, 3M Company, Sika Corporation, CCI Corporation, Certainteed Corporation, Huck International and Weed Instrument Company.