China Development Bank provides €43.32 million EUR loan to Astronergy for Prahova Solar Power Project

In 2014, China Development Bank extended a €43.32 million EUR loan to Astronergy Co., Ltd. — a subsidiary of the CHINT Group — for the Prahova Solar Power Project. Astronergy Co., Ltd., which is a Chinese company, then used the loan proceeds to on-lend to a Romanian project company and special purpose vehicle (SPV) called Tehnoinstrument Solutions, which had previously secured a concession contract in 2010 to build and operate a solar power plant in Pantazi village within the commune of Valea Călugărească and the county of Prahova. Astronergy Co., Ltd. and Romanian company Astronergy Co., Ltd. were the shareholders of Tehnoinstrument Solutions. Tehnoinstrument Solutions, which was later renamed TIS ENERGY S.A., used the loan proceeds to construct four solar energy plants with a total power generation capacity of 26 MW. At least one of these power plants is located in Pantazi village within the commune of Valea Călugărească and the county of Prahova. There is photographic evidence on the CHINT Group website that this project was implemented; however, its precise implementation start and end dates are unknown.

Additional details

This project is also known as the Pantazi Solar Power Project and the Patazzi Solar Power Project. The Chinese project title is 罗马尼亚5MW光伏电站项目. Given that Tehnoinstrument Solutions will operate the power plants, there is a commercial intent as well as development intent.

Number of official sources

4

Number of total sources

9