Overview

China Development Bank provides EUR 26.19 million loan to RisenSky for the construction of 4 solar parks

Commitments (Constant USD, 2023)$36,471,037

Commitment Year•2012Country of Activity•BulgariaDirect Recipient Country of Incorporation•Hong Kong (China)Sector•EnergyFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2012

Start (actual): Mar 26, 2012

Last repayment: Dec 28, 2024

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

RisenSky

Implementing agencies

Joint Venture/Special Purpose Vehicles

RisenSky

Private Sector

Sky Solar Holdings, Ltd.

Guarantors

Private Sector

Risen Energy Co. Ltd.

Loan desecription

China Development Bank provides EUR 26.19 million loan to RisenSky for the construction of 4 solar parks

Interest rate (t₀)•7.1%Interest type•Fixed Interest RateMaturity•13 years

Narrative

Full Description

Project narrative

In September 2011, RisenSky, a joint venture between Sky Solar and Risen Energy Co., Ltd., was formed. Risen Energy, through its affiliate Risen Energy (Hong Kong) Co., Ltd., holds a 70% equity stake in RisenSky, and Sky Solar holds a 30% equity stake. In March 2012, China Development Bank extended an EUR 26.19 million loan to RisenSky for the development of four solar parks in Bulgaria with an aggregate capacity of 12.1 MW. Risen Energy is the guarantor of the CDB loan. According to a financial report published by Risen Energy , China Development Bank extended a loan worth EUR 26,190,000 with a repayment period between March 26, 2012 and November 20, 2026 and an interest rate of 7.10%. As of December 31, 2017, RisenSky had completed the construction of the four solar parks in Bulgaria.