November 29 (Renewables Now) - Taiwanese solar developer and operator New Green Power (NGP) said today it has refinanced an 82-MW solar portfolio in Taiwan.
The company, which is now owned by a fund managed by BlackRock Alternatives’ Climate Infrastructure team, has secured a TWD-3.913-billion (USD 126m/EUR 121m) financing package, consisting of a TWD-2.283-billion refinancing term facility, a TWD-1.415-billion construction facility, and a TWD-215-million debt service reserve facility. The loans can be increased to TWD 10 billion thanks to an accordion structure.
The portfolio includes 36 solar assets across Taiwan. Of them, 31, representing 55.2 MW of capacity, are fully operational and five, representing 26.6 MW, are under development. All of the projects will benefit from a 20-year feed-in tariff with Taiwan Power Company.
The news follows an announcement last week that the BlackRock Alternatives-backed developer is venturing into electric vehicle (EV) charging and battery storage. Under a deal agreed in October, it is buying a “significant minority stake” in EV charging company EVOASIS.
NGP also said it is developing a 59-MW battery energy storage project and aims to construct at least 200 MW of battery assets over the coming years.
(TWD 1 = USD 0.032/EUR 0.031)