Standard Chartered announces USD235 million green loan financing for USA solar module manufacturing plant
2024年8月7日 - 5:30PM
ビジネスワイヤ(英語)
Standard Chartered announces the successful closing of a
six-year USD235 million non-recourse senior secured term green loan
facility to fund the development, construction, and operation of a
1.35 million square foot solar photovoltaic manufacturing plant in
Wilmer, Texas, USA, for Trinasolar, a leading global renewable
company.
Standard Chartered was the sole lead structuring bank and
bookrunner for the financing and acted as Green Loan Coordinator,
as well as a Joint Lead Arranger, Lender, and Hedge Counterparty.
The transaction is one of the first solar panel manufacturing
facilities to be financed on a non-recourse basis in the USA.
The new manufacturing plant will include seven solar
photovoltaic panel assembly lines producing three types of solar
modules for utility-scale, commercial and industrial, and
residential-scale solar with a total output of 5.0 GWdc per year.
This project helps improve the country’s renewable energy mix and
transition to cleaner energy and, once fully operational, will
bring 1,500 new local jobs.
Jerry Sen Wu, Group CFO, Trinasolar said: “We are
delighted to announce the successful signing and funding of our
first syndicated projected financing with Standard Chartered,
marking the first non-recourse syndicated project financing in the
United States raised by a PV module manufacturer and renewable
enterprise. We extend our heartfelt appreciation to Standard
Chartered and all our banking partners for their unwavering support
in our mission to bring “Solar Energy for All,” lead industry
innovation, and uphold environmental protection as a core aspect of
our corporate social responsibility.”
Sridhar Nagarajan, Regional Head, Project Export Finance,
Europe and Americas, Standard Chartered said: “Trinasolar is a
longstanding client, and we are delighted to assist them again in
this new green project financing. In addition to boosting job
creation locally in Texas, this new state-of-the-art solar panel
plant will strengthen Trinasolar US’s leading position in the local
solar market. We are proud to have played a key role in this
project which allows us to bring to life our commitment to working
with clients towards net zero using our ability to provide
comprehensive, innovative, and bespoke sustainable financing
solutions.”
This financing follows a USD250 million1 Syndicated Green Loan
for Trinasolar in 2022, for which Standard Chartered was the Sole
Mandated Lead Arranger, Bookrunner and Green Loan Coordinator. The
loan was used for electricity generation using solar photovoltaic
technology.
Standard Chartered
We are a leading international banking group, with a presence in
53 of the world’s most dynamic markets and serving clients in a
further 64. Our purpose is to drive commerce and prosperity through
our unique diversity, and our heritage and values are expressed in
our brand promise, here for good.
Our history in the US dates back to 1902, and we are currently
present in nine locations throughout the Americas. Our Americas
franchise focuses on financial institutions and select corporations
and plays a key role in facilitating trade and investment flows
between the Americas and Asia, Africa, the UK and Europe and the
Middle East.
Standard Chartered PLC is listed on the London and Hong Kong
Stock Exchanges.
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Trinasolar
Trinasolar was founded in 1997. As a global leading provider for
photovoltaic (PV) module and smart energy solutions, Trinasolar
delivers PV products, applications and services to promote global
sustainable development. Trinasolar's mission is to boost global
renewable energy development around the world for the benefit of
all of humanity. To date, Trinasolar has shipped more than 150GW of
modules, with shipments of 210mm modules surpassing 75GW.
Trinasolar has obtained extensive technical and brand
recognition from renowned independent institutes worldwide,
demonstrating the PV market's strong confidence in Trina’s product
value, technological innovation, and financial performance. It has
scored 100% in the BNEF Bankability Survey for the past 7 years,
has won “Overall Highest Achiever” by RETC for 4 consecutive years,
was awarded the highest ranking, AAA, 5 times in a row in the
PVTech ModuleTech Bankability Ratings report, and has been awarded
“Top Performer” by PVEL for 9 consecutive years.
Trinasolar’s global business footprint has delivered clean
energy to more than 160 countries and regions. Trinasolar has
operated in the USA since 2009. With its mission of “Solar energy
for all,” Trinasolar is committed to working with others to create
a net-zero future.
For more information, please visit www.trinasolar.com
1 Standard Chartered Bank Supports Trinasolar in the Signing of
the World’s First Common Ground Taxonomy Aligned Syndicated Green
Loan | Trinasolar
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version on businesswire.com: https://www.businesswire.com/news/home/20240807856471/en/
Media Contact: Sammi He Standard Chartered Americas
Sammi.He@sc.com 862.448.8488