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Overview

China Development Bank provides EUR 50 million loan to Green Vision Seven SRL for 82MW Solar Power Park Project (Linked to Record ID#73251)

Commitments (Constant USD, 2023)$68,642,298
Commitment Year•2013Country of Activity•RomaniaDirect Recipient Country of Incorporation•RomaniaSector•EnergyFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2013
Start (actual)
Apr 1, 2013
End (actual)
Dec 1, 2013

Geospatial footprint

Map overview

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This project involved an expansion in the power generation capacity of an existing photovoltaic park in the village of Ucea de Sus within Brașov County from 55 MW to 82MW. More detailed locational information can be found at https://www.openstreetmap.org/way/653476356#map=15/45.7069/24.6926.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% Chinese ownership

Funding agencies

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Green Vision Seven SRL

Implementing agencies

Joint Venture/Special Purpose Vehicles

  • Green Vision Seven SRL

Loan desecription

China Development Bank provides EUR 50 million loan to Green Vision Seven SRL for 82MW Solar Power Park Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2013, China Development Bank (CDB) and Green Vision Seven SRL — a special purpose vehicle (SPV) project company that is indirectly controlled by Hareon Solar Technology — signed an EUR 83 million loan agreement for an 82MW Solar Power Park Project. The loan was provided in a two tranches: an EUR 50 Million tranche (captured in Record ID#66498) and an EUR 38 million tranche (captured in Record ID#73251). The borrowing terms of the loan are unknown. This project, which cost EUR 100 million in total, involved an expansion in the power generation capacity of an existing photovoltaic park in the village of Ucea de Sus within Brașov County from 55 MW to 82MW. Construction began in April 2013 and ended in December 2013. Then, in 2014, the expanded photovoltaic park was put into operation. The park was later sold to a Chinese company called Jiangsu Sunshine Group.

Staff comments

This project is also known as the Green Vision-Brasov Solar PV Park - 1A Project. Green Vision Seven SRL is a project company that is 95.5% owned by Hareon Solar Technology through a legal vehicle controlled by a subsidiary, Hareon Alps Holding, which is registered in Switzerland.