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US in USD 70m Indian solar site expansion

First Solar to supply PV panels with export bank funding to grow leading solar project in India

US firm First Solar will provide solar panels to expand the project in India
US firm First Solar will provide solar panels to expand the project in India

The US is helping to expand a major solar project in India. Azure Power India Pvt, an Indian renewable-energy developer, has arranged USD 70.4m in long-term financing from the Export Import Bank of the US to expand the largest project under the country’s National Solar Mission, using panels from US firm First Solar Inc. (FSLR) according to reports.

The 5 MW plant in Nagaur, in the state of Rajasthan, went into operation in December and is being expanded to 40 MW, New Delhi-based Azure said today in an e-mailed statement, Bloomberg said. Construction is underway and the project is expected to be complete by February next year.
 
The bank has approved the loan and First Solar, based in Tempe, Arizona, will be the sole panel supplier for the Nagaur project.

India is seeking to develop 20,000 MW of solar capacity by 2022 under its National Mission. When complete, the Nagaur plant will be “the largest developed at a single site under the program”, the report said.