Follow The Money: $1 Billion For India

US Export-Import Bank, has offered $1 billion a low-cost loan to India,
. . . for the Indian Renewable Energy Development Agency (IREDA),
. . . to disburse it to various renewable energy projects across India.

The bank offers debt financing at about 1/3 the cost of what Indian banks offer.
. . . Cheap debt financing is among the major reasons,
. . . for the explosive growth in the Indian solar power sector, and
.. . the fall of tariffs to less than a 1/3 of what they were in 2009–2010.

This proposed loan will also carry a caveat,
. . . that beneficiaries will have to import, and
. . . use products manufactured by American companies,
. . . although the loan can be used for procuring a maximum of
. . . 30% of domestically manufactured equipment as well.

India is planning to significantly boosts its installed renewable energy capacity, and
. . . plans to invest $100 billion over the next few years.

11-20-2014 Source:  $1 Billion for India