The US Mission India Charge d’Affaires Ambassador, A Elizabeth Jones, stated on Thursday that the solar panel manufacturing facility of First Solar Inc. established with the support of the United States in Tamil Nadu would lessen India’s dependence on fossil fuels. She continued by saying that it would aid India in achieving its climate goals.
One of the largest deals in the agency’s history, the facility is being built with funding totaling $500 million from the US International Development Finance Corporation.
‘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.
The largest American solar manufacturing facility to build a solar-panel factory in Tamil Nadu is First Solar, and the seven-year, $ 500 million debt financing for the company is one of the largest deals in the agency’s history, she said .
She added that the United States looks forward to assisting India’s leadership of the G20 in the upcoming year as they engage on crucial priorities that deepen partnership in addressing climate change, sustainable and inclusive growth, and the food crisis.
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