Miasole has exported thin-film solar panels to a solar photovoltaic (PV) project in Rajasthan, India, with the support of a $9 million direct loan from the Export-Import Bank of the United States (Ex-Im Bank).
"Ex-Im Bank exists to help companies create and maintain American jobs through exports. This is Ex-Im's second financing of Miasole's exports to India, a growing market for renewable-energy goods and services. Through this support, Ex-Im Bank is assisting the company in expanding its manufacturing base and creating many new jobs," said Ex-Im Bank Chairman and President Fred P. Hochberg.
In FY 2010, Ex-Im Bank provided a $3.7 million loan to finance exports of Miasole's thin-film PV solar panels to a solar project in Gujarat, India.
"Ex-Im Bank's support of Miasole's California-made solar modules for projects in India lowers the cost of capital and will enable Miasole to expand U.S. exports and create jobs in California," said Miasole CEO John Carrington. "We look forward to continuing to work with Ex-Im Bank in 2013 as Miasole expands its global footprint and business model to invest in projects, acquire project pipeline and partner with leading developers and engineering, procurement and construction (EPC) companies in sustainable markets such as India."
Miasole is a pioneer in the development of copper indium gallium selenide (CIGS) thin-film PV solar panels, which are among the highest-efficiency and lowest-cost solar panels. Due to its expanding export-related business, Miasole is doubling its workforce to 400 employees in California in 2013.
