Chennai : The solar panel manufacturing facility of First Solar Inc, set up with the support of the United States near here would help India meet its climate target and reduce dependence on fossil fuels, US Mission India Charge d’Affaires Ambassador A Elizabeth Jones said on Thursday.
The facility being set up with the USD 500 million funding from the US International Development Finance Corporation is one of the biggest deals in the history of the agency, Jones who is on a brief visit to the city was quoted as saying in an official release here.
“Earlier today, I visited First Solar’s solar panel manufacturing facility, made possible through a USD 500 million loan from the U S International Development Finance Corporation and support from the Indian central government and Tamil Nadu state government,” she said at a reception hosted by Consul General Judith Ravin here.
“When fully operational in 2023, the facility will illuminate two million homes, generate thousands of jobs, and help India meet its climate targets while reducing dependence on fossil fuels,” she noted.
Jones assumed the role of Charge d’Affaires ad interim on October 26.
The seven year USD 500 million US International Development Finance Corporation debt financing for First Solar Inc is the largest American solar manufacturing facility to build a solar-panel factory in Tamil Nadu, one of the biggest deals in the history of the agency, she remarked.
The United States looks forward to supporting India’s leadership of the G20 in the coming year to engage on crucial priorities that deepen partnership in sustainable and inclusive growth, climate change and tackling the food crisis, she added.
Source: PTI
