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Bank of China participates in $253 million syndicated buyer’s credit loan for 292 MW Nova Olinda B Solar Project
| Funder | Bank of China (BOC) |
|---|---|
| Recipient Organization | Enel Green Power Nova Olinda B Solar S.A. |
| Country | Brazil |
| Start Date | May 01, 2017 |
| End Date | Oct 12, 2030 |
| Duration | 4,912 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 95938 |
Grant Description
Bank of China contribution to USD 253 million syndicated buyer’s credit loan for 292 MW Nova Olinda B Solar Project In May 2017, the Milan Branch of Bank of China and Santander issued a $253 million syndicated buyer’s credit loan to Enel Green Power Nova Olinda B Solar S.A. — a special purpose vehicle and subsidiary of Enel Green Power Brasil Participações Ltda. (“EGPB”) — for the 292 MW Nova Olinda B Solar Project.
It was backed by credit insurance policy from Sinosure and a corporate repayment guarantee from Enel S.p.A.
The purpose of this $300 million project was to construct a 292 MW solar power plant in Ribeira do Piauí in Brazil's north-eastern state of Piauí. Construction began on or around July 8, 2016. The power plant went into operation on September 12, 2017.
Staff Comments
- The Chinese project title is 意大利安能集團巴西太陽能電站項目 and EGP Nova Olinda B Solar项目.
- The size of Bank of China’s contribution to the loan syndicate is unknown. For the time being, AidData assume equal contributions ($126.5 million) from the two members of the loan syndicate.
- The 292 MW Nova Olinda B Solar Power Plant is supported by a 20-year power purchase agreement (PPA) with the Brazilian Chamber of Commercialisation of Electric Energy (Câmara de Comercialização da Energia Elétrica, CCEE).
Sources & References
- 八个典型案例 看可持续融资助力高质量共建“一带一路”
- Enel Commissions Largest Solar Project in South America, “一带一路”国家 可再生能源项目 投融资模式、问题和建议
- Deals this week: LO3 Energy
- Statoil ASA
- Enel Green Power Brasil Participacoes
- 中行力拓第三方市場合作
- 中行力拓第三方市场合作
- Enel Green Power Nova Olinda B Solar S.A.
- Enel inaugurates 292MW Nova Olinda solar plant in Brazil
- Nova Olinda: The Sun Shines Brighter in Brazil
- ENEL STARTS OPERATION OF SOUTH AMERICA`S TWO LARGEST SOLAR PARKS IN BRAZIL
- Enel Starts Construction On Latin America’s Largest Solar Plant
- Enel S.p.A. Base Prospectus dated November 20, 2017
- Nova Olinda: El sol más grande de Brasil
- Enel gets environmental approval for 290 MW solar park in Brazilian state of Piauí Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Enel Green Power Nova Olinda B Solar S.A.
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