March 25, 2013 - KSK Energy Ventures and MiaSole today announced that the commissioning of an 11.6MW solar photovoltaic project occurred on February 26, 2013. The project is under India's Jawaharlal Nehru National Solar Mission and is one of the largest solar power plants in Rajasthan, India.
U.S. Export-Import Bank will provide $9 million of debt financing for the project, marking the second MiaSole project in India that the U.S. Export-Import Bank has supported. "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 U.S. Export-Import Bank Chairman Hochberg.
"We are pleased to partner with MiaSole to deliver clean energy to our customers and drive continued growth for us in this market," said Anil Kumar Kutty, Director of KSK. "MiaSole CIGS solar panels have proven to deliver the best solution for our project and are a compelling solution for the India market."
"India represents a tremendous opportunity for renewable energy, and we are pleased to partner with a leading company like KSK in its efforts to deliver clean energy resources in Rajasthan," said John Carrington , CEO of MiaSole. "In 2013, we will expand our global footprint and our business model to invest in projects, acquire project pipeline and partner with leading developers and EPC companies in sustainable markets like India. Ex-Im Bank's support of MiaSole's technology lowers the cost of project financing, and will expand the deployment of our California-made solar modules in projects globally."