Ex-Im Bank signs MoU with IREDA

Nov 24, 2014

Export-Import Bank of the United States (Ex-Im Bank) signed a Memorandum of Understanding with Indian Renewable Energy Development Agency (IREDA) to explore options for utilising up to $1 billion to finance the sale of U.S. clean energy exports to India.

The federal agency has authorised $353.4 million for U.S. renewable energy exports to India since 2009.

By Ritesh Gupta

Ex-Im Bank chairman Fred P. Hochberg recently signed the pact with IREDA chairman K.S. Popli.

The federal agency has authorised $353.4m for U.S. renewable energy exports to India since 2009.

It is being hoped that the availability of Ex-Im Bank financing could translate into support for skilled jobs in the U.S. renewable energy sector.

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Ex-Im Bank signs MoU with IREDA