China Development Bank provides EUR 26.19 million loan to RisenSky for the construction of 4 solar parks
Commitment amount
$ 39509871.56791377
Adjusted commitment amount
$ 39509871.57
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Bulgaria
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
Yes
Category
Project lifecycle
Description
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.
Number of official sources
5
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
RisenSky [Private Sector]
Implementing agencies [Type]
RisenSky [Private Sector]
Sky Solar Holdings, Ltd. [Private Sector]
Guarantee provider [Type]
Risen Energy Co., LTD. [Private Sector]
Loan Details
Maturity
13 years
Interest rate
7.1%
Grant element (OECD Grant-Equiv)
11.5599%