BlackRock Global Renewable Power Fund II

BlackRock's Solar Portfolio in Taiwan - Refinancing

Industry
Power/PV solar
Area of finance
Project & Infrastructure Finance
Region
Asia Pacific
Countries
Taiwan

Deal Overview

BlackRock Real Assets has refinanced a 186MW portfolio of solar assets in Taiwan with an 18-year, NT$9,406 million ($328 million) green loan facility. The portfolio, owned by BlackRock Real Assets’ Global Renewable Power Fund II, aggregates 42 projects held by a number of operating companies,...

show more

BlackRock Real Assets has refinanced a 186MW portfolio of solar assets in Taiwan with an 18-year, NT$9,406 million ($328 million) green loan facility. The portfolio, owned by BlackRock Real Assets’ Global Renewable Power Fund II, aggregates 42 projects held by a number of operating companies, spanning ground-mounted, floating and rooftop solar assets across Taiwan. BlackRock Real Assets and Taiwan-based New Green Power took the projects through from construction to operations.

The financing included a number of innovative features for the Taiwan market, including the use of a non-recourse holding company borrowing structure and the reliance by lenders on a debt service reserve facility. The lenders comprised of local banks Bank Sinopac and E.Sun Commercial Bank, together with Australia and New Zealand Banking Group, BNP Paribas, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation and HSBC. Linklaters advised BlackRock Real Assets on the transaction.

show less
Deal Volume
$ 328m
Financial Close
13 April 2022

All Dealmakers

Tranches


To view all tranche and pricing information, please sign up or log in

Projects

BlackRock's Solar Portfolio in Taiwan

Greenfield
PV solar
Asia Pacific
Taiwan
$ 328m