The Indian Ministry of New and Renewable Energy also provides subsidies of about 70% on the installation costs of solar photovoltaic power plants.
Indian financial institutions have just begun financing solar transactions in India under the National Solar Mission and independent solar-power projects to be constructed under several states’ off-take programs.
On 25 August 2011, Ex-Im Bank approved an $84.3m direct loan to Dahanu Solar Power.
The loan will help Dahanu Solar Power to purchase thin-film solar panels from First Solar and other US exports for the construction of a 40MW photovoltaic solar-power plant in the state Indian of Rajasthan.
On 30 September 2011, the Ex-Im Bank approved an $18.9m direct loan to Tatith Energies of Gujarat, India.
The loan will support the purchase of construction services from American Capital Energy and solar panels from SolarWorld California.
The US exports will be used in the construction of a 5MW solar photovoltaic crystalline power project in the state of Gujarat.
