Alternative investments
Kookmin Bank to co-finance $840 mn US solar project
Kookmin commits $100 mn as a syndicated loan lender for a solar power project in California
Jul 22, 2021 (Gmt+09:00)
1
Min read
Most Read
Samsung shifts to emergency mode with 6-day work week for executives
S.Korea's LS Materials set to boost earnings ahead of IPO process
HYBE to fire NewJeans agency CEO; Min refutes accusation
Louis Vuitton, Chanel, Dior post weak profits in Korea post-pandemic
Microsoft CEO to meet with Samsung, SK Hynix, LG, SK Telecom chiefs
Kookmin Bank, South Korea's largest lender, will provide a $100 million loan to finance a solar power project led by US-based investment firm ECP as part of a $840 million syndicated loan.
The bank said on Thursday it has participated in the project financing, together with Deutsche Bank, BNP Paribas and ING Bank.
ECP, with a focus on energy infrastructure, is borrowing the syndicated loan for the first phase of the project to build a solar power generator with a capacity of 1,188 megawatts and an energy storage system with a capacity of 2,165 megawatts per hour in California.
Once completed, the power generator will become the largest solar farm in North America, in line with the state of California's goal of making a complete transition to renewable energy by 2045.
Kookmin said the investment reflected its aggressive deal sourcing efforts.
insight@hankyung.com
Yeonhee Kim edited this article.
The bank said on Thursday it has participated in the project financing, together with Deutsche Bank, BNP Paribas and ING Bank.
ECP, with a focus on energy infrastructure, is borrowing the syndicated loan for the first phase of the project to build a solar power generator with a capacity of 1,188 megawatts and an energy storage system with a capacity of 2,165 megawatts per hour in California.
Once completed, the power generator will become the largest solar farm in North America, in line with the state of California's goal of making a complete transition to renewable energy by 2045.
Kookmin said the investment reflected its aggressive deal sourcing efforts.
insight@hankyung.com
Yeonhee Kim edited this article.
More to Read
-
Alternative investmentsHana, ECP signs $300 mn infra investment partnership
May 27, 2021 (Gmt+09:00)
1 Min read
Comment 0
LOG IN