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Davao Solar PV Plant

Sector: Solar • Location: Philippines

Source: World Bank Group

Project
Active

The US$72m project entails the development, construction, completion operation and maintenance of a ground-mounted solar PV plant with a capacity of up to 28.49MWp to be located in Digos City, Davao del Sur, in the Philippines.

Borrower is Enfinity Philippines Renewable Resources Fouth Inc (the local unit of the Belgian Enfinity NV). Sponsors are Greenlight Resources Stakeholdings Fourth Inc (42

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Project Information

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The project “Davao Solar PV Plant” is an infrastructure initiative in the Solar sector, located in Philippines. Taiyo aggregates data on it from World Bank Group.

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Description

Description

The US$72m project entails the development, construction, completion operation and maintenance of a ground-mounted solar PV plant with a capacity of up to 28.49MWp to be located in Digos City, Davao del Sur, in the Philippines. Borrower is Enfinity Philippines Renewable Resources Fouth Inc (the local unit of the Belgian Enfinity NV). Sponsors are Greenlight Resources Stakeholdings Fourth Inc (42%), United Profit Holdings (38%) and Alberlyn8 Holdings Corp (20%). EPC contractor is Sterling & Wilson. Equipment supplier is Hanwha Q Cells Korea Corp. Legal adviser to lender is Clifford Chance. Financing comprises a US$30m 1-year term loan, a US$20m 1-year term loan and PHP1bn equity. MLAs are NordLB and BDO respectively. Financial close occurred on 29 July 2015. Sponsor to be added Sponsors to be added Greenlight Resources Stakeholdings Fourth Inc (42%), United Profit Holdings (38%) and Alberlyn8 Holdings Corp (20%)

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