Neo Solar Power subsidiary signs $ 167 million loan agreement to develop 100 MW of solar power in Taiwan – pv magazine International

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Si One and Da Li Energy, which are wholly-owned subsidiaries of Taiwanese solar cell maker Neo Solar Power (NSP), secured a NT $ 5 billion ($ 167 million) syndicated loan for the 100 MW development solar photovoltaic capacity in Taiwan.

The agreement, signed between Si One Corp – a subsidiary of Neo Cathay Power Corp., which is a joint venture (JV) between NSP and Cathay Life Insurance – and Da Li Energy sees a set of Taiwanese banks backing the solar business of the ‘business.

Fubon Bank, Shin Kong Bank, Bank SinoPac and Chang Hwa Commercial Bank are the syndicated backers of the loan, which is a five-year facility with an option for two five-year extensions.

“With the cooperation of NSP and Cathay Life, Neo Cathay would focus on the development, construction and acquisition of solar systems in Taiwan,” said Andy Shen, President of NSP.

“In addition, we believe that these funds and the strong support of the Government of Taiwan’s renewable energy policy will help increase the speed and scale of installation of NSP and Cathay Life solar systems. “

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