Solar energy modules headed for project in India

First Solar (NASDAQ: FSLR) signed a 100 MW solar module supply agreement with Reliance Power for a two-phase solar project in India.

First Solar will deliver the first 40 MW of thin film modules by the end of 2011 with the remaining 60 MW expected to be delivered in 2012. The solar energy project will supply electricity to Mumbai.

The U.S. Export-Import Bank approved an $84.3 million loan on Aug. 25 to Reliance Power's Dahanu Solar Power Pvt. unit to buy First Solar panels for the first 40 MW of the project.

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