US Ex-Im Bank promises $1bn Indian RE financing

INDIA: The US Export-Import Bank (Ex-Im Bank) has revealed plans to provide $1 billion in financing for the sale of US-made renewable energy technology to India.

GE has been a major benefficiary of previous Ex-Im loans
GE has been a major benefficiary of previous Ex-Im loans

Google Translate

The bank's chairman Fred Hochberg has signed a memorandum of understanding with chairman of the Indian Renewable Energy Development Agency over the financing.

Credit facilities based on 18-year, fixed-interest terms will be offered to companies looking to import US-made technology. The funding is not ring fenced for any particular form of renewable energy, but will be available for wind technology.

India is the second-largest destination for US exports supported by Ex-Im Bank financing. It has authorized $353.4 million for US renewable energy exports to India since 2009.

The Ex-Im Bank has also previously funded wind projects in Pakistan, Peru and Costa Rica. Most of the deals have covered GE turbines, but Siemens and Gamesa – which has factories in the US – have also benefitted.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Sign up now
Already registered?
Sign in

Windpower Monthly Events

Latest Jobs