Conergy extends finance facility to power solar business

Photovotaic or hotwater system

Conergy extends finance facility to power solar business

Postby weijing3333 » Tue Sep 15, 2015 7:14 pm

Solar developer Conergy has extended its bank guarantee facility with Tennenbaum Capital to US$75 million using funding from Goldman Sachs BDC in order to power an expansion of its solar business.

Andrew de Pass, chief executive at Conergy, said the facility would help the company execute a “global growth plan” in solar with the company looking to expand specifically into bidding, pre-construction, construction and output areas of the industry.

Conergy’s existing facility amount to around US$60 million, more than half of which was used to finance a 37MW project in the UK as well as a 50MW project located in the Philippines.

“Our upsized bank guarantee facility is a testament to the increased demand Conergy is seeing for its services in a number of different countries around the world,” said Timothy Gravely, managing director at Tennenbaum Capital Partners.

In July Conergy joined the growing list of developers to vocally criticise the UK government’s plans to remove Renewable Obligation support for sub-5MW projects, stating the risk the plans had to “further disrupt investor confidence” in the country.
Posts: 61
Joined: Thu Jul 23, 2015 8:19 pm

Return to Solar

Who is online

Users browsing this forum: No registered users and 1 guest

Recent Forum Posts
  • ECONET for Automatic Temperature Control - Hi all, Basically Econet word [...]
  • Desuperheater Water Heater - Hi Everyone, A desuperheater is known as a secondary [...]
  • Garage door issue - The garage door is out of alignment. I'm not able to close [...]
  • Re: Home improvement advice from a home improvement guru: - these advice are [...]
  • Re: Window Film affect air quality? - Thanks for sharing this post shane. [...]

Green Home Store

Most Popular Blogs/Articles