Ex-Im Bank signs MoU with IREDA
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.
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.