Taiwanese solar developer Chenya Energy Co Ltd has obtained TWD 7.2 billion (USD 239.3m/EUR 222m) in financing for a 180-MW floating solar project in the Changhua Coastal Industrial Park.

The funds come from a consortium of seven international and local lenders, including Singapore’s DBS Bank, Japan’s Sumitomo Mitsui Banking Corp and France’s Societe Generale. The participation of local financial institutions surpasses 40%, which is a record for a single project in Taiwan, according to the announcement.

The plant is expected to be connected to the grid by the end of the year. Chenya Energy says that upon completion, it will be the largest of its kind in the world.

A day before the announcement was made, global infrastructure investment manager I Squared Capital said it wrapped up the sale of Chenya Energy and its assets of over 340 MW to Japan’s Marubeni Corp (TYO:8002).

(TWD 1.0 = USD 0.332/EUR 0.309)

Source: Renewables Now