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U.S. government funds Ontario solar project

Published by Steve Coleman on September 06, 2011

An Ohio solar panel maker that won the rights to install North America's largest collection farm in Sarnia, Ont. area will do it with $455.7 million in U.S. federal government help.

The Export-Import Bank of the United States announced the money and the 550 jobs First Solar in Perrysburg, Ohio were the largest investment, yet, in U.S. cadmium telluride solar modules.

The American federal investment bank stepped in to support the project after First Solar couldn't find vialble long-term financing from the usual sources.

All told, the U.S. government sunk $573 million into the company to produce the panels for the Ontario projects and three others in India.

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