July 19, 2017 |
Sojitz Corporation has turned to the Nippon Export and Investment Insurance (NEXI) to fund a solar project in Chile, while covering most of the project costs with equity.
The Japanese conglomerate got $67.4m in 18-year financing for the Huatacondo photovoltaic plant, equal to a gearing ratio of 44.1% debt and 55.9% equity, said sources involved in the financing.
NEXI provided insurance for a $47.2m loan from Japanese lenders Mizuho, SMBC and Iyo Bank. Mizuho and SMBC each contributed $18.1m to
Japanese conglomerate turns to NEXI to secure long-term financing for a 98 MW plant without a PPA