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MiaSole, Ex-Im Bank bring thin-film panels to Rajasthan solar project

California-based solar company MiaSole will be providing thin-film photovoltaic solar panels to an 11.6-megawatt solar project in Rajasthan, India with the help of $9 million in debt financing from the U.S. Export-Import Bank.

“This project financing facilitates exports from MiaSole’s California manufacturing center will boost California’s economy and help to create hundreds of local jobs,” said Ex-Im chairman and president Fred P. Hochberg.

The Sai Maithili Power Company Private Ltd., a single-purpose solar company formed by KSK Energy Ventures, is building the project under the Jawaharlal Nehru National Solar Mission.

MiaSole, which is a leading manufacturer of copper indium gallium selenide thin-film solar panels, has been positioning itself as a lead supplier of solar solutions in India.

“Ex-Im Bank’s support of MiaSole’s California-made solar modules for projects in India lowers the cost of capital and will enable MiaSole to expand U.S. exports and create jobs in California,” said MiaSole chief executive officer John Carrington.

Over the past year, MiaSole has completed projects in Rajasthan, Gujarat, Maharashtra and Tamil Nadu, including a previous project in Gujarat in 2010 where the Ex-Im Bank providing a $3.7 million loan for MiaSole panels. – EcoSeed Staff

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