As the euphoria around US President Barack Obama´s visit ebbs, the fine print of the investment announcements reveal a financial boost for American solar energy companies to increase their exports to India.
Of the investments announced by the US federal agencies in the clean energy space, most are institutional loan for US solar companies, aimed at increasing their export to the growing renewable energy (RE) market India, especially solar power. The $1-billion loan agreement that the US Exim bank signed with Indian Renewable Energy Development Agency (Ireda), would be extended to US solar cell manufacturing companies that will export to India, said Indian government officials.
¨The push has been given to US solar companies already selling or planning to sell in India to expand their presence through either exports or manufacturing,¨ said a senior official.
Currently, only Sun Edison and First Solar are the two major American companies with operations in India.
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