Svay Rieng PV Solar Farm

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The project entails the construction of a solar plant with total capacity of 10 MW near Bavet, a special economic zone in the Svay Rieng province, Cambodia. The plant will be built and operated by Sunseap Asset (Cambodia), the local subsidiary of Singapore-based Sunseap International. Sunseap Asset (Cambodia) won the bid to build and run the facility by agreeing to sell the electricity produced to Cambodia’s Electricity Authority (EDC) for 9.1 cents per kilowatt hour. The facility has a 20-year operational expectancy. The total cost of the solar farm is $12.5 million. The financing includes a $9.2 million loan provided by the Asian Development Bank (ADB). ADB is the lender of record and BRED Bank (Cambodia) is participating as B Loan lender and the Canadian Climate Fund for Private Sector in Asia (CFPS) provided a concession loan. However, the amount split among lenders has not been disclosed. Sunseap will contribute $3.3 million towards the project as equity. Financial closure occurred on May 15, 2017. https://ijglobal.com/data/transaction/38054/svay-rieng-pv-solar-farm-10mw https://ijglobal.com/articles/106059/adb-finances-sunseap-solar-farm-in-cambodia BRED Bank (Cambodia) is participating as B Loan lender and the Canadian Climate Fund for Private Sector in Asia (CFPS) provided a concession loan. However, the amounts have not been disclosed, hence not included in this report. Sponsor is the Singapore-based Sunseap Group