U.S. Government Loaning $500M for Solar Power Projects (In India)

The U.S. Export-Import Bank, an independent agency of the federal government, says that it has $500 million in loans in the “pipeline” to fund new solar energy projects—in India.

The $500 million in new loans will come on top of $75 million in financing that the Export-Import Bank has already provided this year for solar power projects in India.

“In fiscal year 2011 to date, the Bank has approved financing totaling approximately $75 million for four solar projects in India,” the bank said in a July 18 press release. “The Bank also has about $500 million of India solar projects in the pipeline that will generate an estimated 315 MW of solar power.”