Deals this week: Neo Cathay Power, Hydro One, Zhejiang Chint Electrics

5 January 2018 (Last Updated January 4th, 2018 11:15)

Neo Cathay Power has arranged TWD5bn ($168m) of project financing from a group of banks for the construction of solar projects in Taiwan with a combined installed capacity of 100MW.

Neo Cathay Power has arranged TWD5bn ($168m) of project financing from a group of banks for the construction of solar projects in Taiwan with a combined installed capacity of 100MW.

The lenders group includes First Commercial Bank, Far Eastern International Bank, KGI Bank, and Taishin International Bank along with participation from Fubon Bank (Hong Kong), Shin Kong Bank, Bank SinoPac and Chang Hwa Commercial Bank.

Neo Cathay Power is a photovoltaic (PV) solar generation company based in Taiwan and a joint venture (JV) of Neo Solar Power and Cathay Life Insurance.

Hydro One has raised C$259m ($205.82m) through the private placement of 14,391,012 common shares priced at C$18 ($14.3) a share.

The placement was subscribed to by OFN Power Holdings, a limited partnership wholly-owned by Ontario First Nations Sovereign Wealth.

Based in Canada, Hydro One is engaged in electricity transmission and distribution.

Zhejiang Chint Electrics has divested a 51% stake in nine solar PV power projects for CNY538.9m ($82.76m).

The projects are located in Gansu and Ningxia provinces in China and have a combined installed capacity of 405MW.

Harbin Jiuzhou Electrical plans to raise CNY653.2m ($100.36m) through a private placement.

“Foresight Solar Fund has raised A$55m ($42.9m) of project financing from Clean Energy Finance.”

The Chinese electrical and electronic equipment producer plans to use the funds for the development of windpower projects.

Foresight Solar Fund has raised A$55m ($42.9m) of project financing from Clean Energy Finance Corporation (CEFC) for the construction and development of the 70MW Oakey 2 Solar Farm in Queensland, Australia.

Expected to come online in November 2018, the farm will be equipped with 205,860 Canadian Solar KuMax CS3U-340P solar panels.

Foresight Solar Fund acquired an equity interest in the solar farm from Canadian Solar on 29 December 2017.

Grenville Strategic Royalty has signed an agreement to provide C$1.07m ($0.85m) as growth capital to Solar Brokers Canada and its affiliate Green Lion Eco Group.

Solar Brokers Canada is a solar energy solutions provider, while Grenville Strategic Royalty is a finance company.

Solar Brokers Canada plans to use the proceeds to expand its business operations in Canada.

Capstone Infrastructure has acquired a 51% interest in windfarm project Glen Dhu Wind Energy Limited Partnership.

Located near Merigomish, Canada, the farm will have an installed capacity of 62.1MW.