Obama’s Jobs Plan…to invest $500 Million in Solar Panel Projects….in India


The Obama regime is pretty handy at spending our money to create jobs in other countries. Look at Evergreen Solar for evidence.

(CNSNews.com)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.”

While in India last month, Export-Import Bank Chairman Fred Hochberg, an Obama appointee, announced two of the new solar projects the U.S.-government bank will be financing.

“In New Delhi, Hochberg announced authorizations totaling more than $25 million for two separate solar transactions,” the Export-Import Bank said in a July 19 statement. ”Ex-Im Bank is providing a $16 million, 16.5-year loan to Azure Power Rajasthan Pvt. Ltd. to purchase thin-film solar modules from First Solar Inc. in Tempe, Ariz, for the construction of a five-MW solar photovoltaic plant in the state of Rajasthan.

“Additionally,” the statement said, “Ex-Im Bank authorized a $9.2 million, 18-year loan for thin-film solar modules from Abound Solar Inc. in Loveland, Colo., to Punj Lloyd Solar Power Ltd. for the construction of a five- MW photovoltaic solar power plant in Rajasthan.”

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Ex-Im Bank is providing a $16 million loan to support exports of thin-film solar modules from First Solar Inc. in Tempe, Ariz. (manufacturing center in Perrysburg, Ohio) to the Azure Power five-MW solar project in the state of Rajasthan, India. First Solar exported its solar modules to a similar project in the state of Gujarat (pictured above), which also received Ex-Im financing.

Ex-Im Bank is providing a $16 million loan to support exports of thin-film solar modules from First Solar Inc. in Tempe, Ariz. (manufacturing center in Perrysburg, Ohio) to the Azure Power five-MW solar project in the state of Rajasthan, India. First Solar exported its solar modules to a similar project in the state of Gujarat (pictured above), which also received Ex-Im financing.

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