“US Ex-Im Bank has been among the prime lenders to solar power projects in India. It provided debt financing to several projects which became the first solar power projects to be commissioned in India. The largest solar thermal power project in the country has also been financed by the bank. A number of projects under the National Solar Mission have successfully approached the bank.” (cleantechnica.com)
The US Ex-Im Bank provides loan at much lower rates than Indian banks. This is the reason for the major boost in renewable energy use in India in recent years. The largest beneficiary of this growth is First Solar which is estimated to control around 30% of the market in India.
“However, cheap loans weren’t the only thing that came from US Ex-Im Bank’s basket. Solar modules from American manufacturers also made a huge mark in the Indian market. First Solar is the biggest beneficiary of this system. By some estimates, the company enjoys about 30% of the market share in India.” (cleantechnica.com)
This is only the beginning as India plans to expand its use of renewable energy in the coming years. cleantechnica.com reports India will be investing as much as $100 billion and expanding their capacity for clean energy soon.