Chenya Energy Changbin Lunwei East Power Plant Project Financing in Place
Chenya Energy Co., Ltd. announced that the financing for the 180MW floating solar power plant in Changbin Lunwei East District has been successfully executed in place on April 22nd, and the bank consortium has provided NT $ 7.2 billion in financing. In the project, there will be more than 570,000 solar modules in Lunwei East District, Changbin Industrial Zone, Changhua County, and is expected to be connected to TPC by the end of 2020.
The project finance was successfully structured and completed at the end of last month, and lender group was consisted of seven international and Taiwanese banks, including DBS Bank, KGI Bank, Sumitomo Mitsui Banking, Societe Generale, Bank Sinopac, E.SUN Commercial Bank and First Commercial Bank, etc. There are new milestones for Renewable and Project Finance in Taiwan:
1. The loan proportion of Taiwanese bank exceeds 40%, and the largest local loan amount.
2. This project financing has been led by local banks and foreign banks from the beginning, and KGI Bank and DBS Bank jointly acted as financial advisors and Mandated Lead Arrangers.
3. For the first time, Taiwan's government bank directly participated in Taiwan's international standard large-scale project financing credit case.
4. In this case, floating solar power plant with more than 180MW will be built. After completion, it will become the world's largest floating solar power plant.
Chenya Energy mentioned that the completion of the Changbin project financing is a success for Taiwan to write a new history, in addition to traditional roof-type, ground-type solar power plants, onshore wind power, and offshore wind power actively introduced and developed in recent years. At the same time, this project finance is executed under international standard such as financing terms, loan structure, technical, financial and legal due diligence and insurance.
As the government actively promotes renewable energy projects and uses offshore wind and solar energy as the core driving force for energy transformation, Chenya Energy will continue to contribute to the development of solar energy and renewable energy in Taiwan with a view to cooperating with the completion of the government's energy transformation project by 2025 .
#Chenya Energy #Floating Solar #Taiwan Renewable Energy #Project Finance
About Chenya Energy Co., Ltd.
Chenya Energy Co., Ltd. is an investment company of Taiwan. Its main business is investment in large-scale solar power plants in Taiwan.