Chenya Energy Obtains Financing for World’s Major Floating Solar Project in Taiwan

Chenya Energy Company Limited has announced that it acknowledged TWD 7.2 billion ($239.2 million) financing for a 180 MW floating solar project in the Changhua Coastal Industrial Park.

The company said that work on the project started in 2018, and it involves of over 570,000 solar modules. Once completed, this will the largest floating solar project in the world, it claimed, adding that it plans to connect the project to the grid for power generation by the end of 2020.

Chenya said that the financing was mutually provided by a consortium of seven international and local banks in Taiwan, including DBS Bank, KGI Bank, Sumitomo Mitsui Bank, Societe Generale, Wing Fung Bank, Yushan Bank, and First Bank.

The Taiwan-based solar developer added that this project helped domestic records, including bringing out a 40% participation rate from the country’s financial institutions, making this the largest domestic loan for a single project in the country’s history.