Indian developer to use loans to buy SolarWorld panels

Tatith Solar will use the US$19 million direct loan to buy SolarWorld Industries America panels for its 5MW project in Gujarat. The transaction is the sixth Ex-Im Bank-backed PV installation in India in the current fiscal year.

This is part of the US$3.4 billion package approved by the board of directors of the US’s Export-Import Bank has  to help US exports in a number of key industries, including solar.

"This has been a historic year for Ex-Im Bank in terms of total authorizations and the number of American jobs supported by Ex-Im financing,” said the bank's chairman and president Fred Hochberg. “The Bank has responded to a record level of financing requests this year to provide export financing on behalf of US companies expanding foreign sales and sustaining and creating jobs. We have been able to do this without cost to the US taxpayer."