Nov. 22 (Bloomberg) -- The U.S. Export-Import Bank approved an $18.9 million loan for an Indian solar power project that will import photovoltaic panels from SolarWorld AG’s California unit.
The funding will allow Tatith Energies to buy the crystalline-based devices from the manufacturer and construction services from North Chelmsford, Massachusetts-based American Capital Energy for its 5-megawatt plant in the western state of Gujarat, according to an e-mailed statement from the Washington- based lender.
The Export-Import Bank helps exporters get credit for foreign sales by providing direct loans or guarantees. As of Nov. 5, it had approved $176.4 million in funds for six Indian solar projects.
--Editors: Todd White, Ana Monteiro
To contact the reporter on this story: Natalie Obiko Pearson in Mumbai at email@example.com
To contact the editor responsible for this story: Reed Landberg at firstname.lastname@example.org