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[Electrical Newspaper] BEP completes 101.9 billion won solar power generation asset PF

BEP completes 101.9 billion won solar power asset PF


Reported by Reporter Kim Jin-hoo (jhkim@electimes.com)
2024.01.24 09:26 Lake 4228

KDB Industrial Bank and Woori Bank participated in 76MW solar power financing procurement

BEP solar power asset size grew by 177.4% per year on average over 3 years
5MW solar power plant owned and operated by BEP (located in Daegwallyeong-myeon, Pyeongchang-gun, Gangwon-do) / Provided by Bright Energy Partners.
CEO Kim Hee-seong “Recognized for stability by attracting large banks.”
5MW solar power plant owned and operated by BEP (located in Daegwallyeong-myeon, Pyeongchang-gun, Gangwon-do) / Provided by Bright Energy Partners.
5MW solar power plant owned and operated by BEP (located in Daegwallyeong-myeon, Pyeongchang-gun, Gangwon-do) / Provided by Bright Energy Partners.
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Bright Energy Partners (BEP) has completed project financing (business financing, PF) for its 76MW solar power generation assets.

BEP announced on the 24th that it succeeded in procuring senior loans for solar power generation assets worth a total of KRW 101.9 billion from KDB Bank and Woori Bank. KDB Korea Development Bank and Woori Bank participated in senior loans worth 56.9 billion won and 45 billion won, respectively. The maturity is 17 years.

This loan contract was concluded based on REC supply contracts concluded with domestic RE100 companies such as LG Chemical in addition to existing power generation companies. Hanwha Solutions is in charge of operation and management of the solar power plant.

BEP is a solar power generation company (IPP). We directly own and operate large-scale (more than 20 MW) solar power plants, including small and medium-sized solar power plants of 1 to 3 MW. Based on the size of solar power assets, the average annual growth rate over the past three years amounts to 177.4%.

BEP is a renewable energy company that began operations in earnest in 2020 and plans to contribute to carbon reduction and actively respond to the climate crisis by expanding solar power generation and electric vehicle infrastructure.

In 2022, the electric vehicle fast charging network ‘WATER’ was launched. 'Water' plans to take the lead in distributing eco-friendly electric vehicles by creating 100 fast charging stations across the country by the end of 2025.

Kim Hee-seong, CEO of BEP, said, “Amidst an unstable external investment environment and financial market due to interest rate increases, we succeeded in raising more than 100 billion won in financing from a large domestic bank, and both the stability and superiority of BEP’s solar power portfolio were recognized.” “With the funds raised, we will continue to accelerate the acquisition and development of solar power businesses and expand the electric vehicle charging network to increase market competitiveness,” he said.


#BEP #Bright Energy Partners #Solar Power Plant #Solar Power #Renewable Energy #PF #Project Financing #Water #RE100

Source: Electric Newspaper


Reporter Kim Jin-hoo jhkim@electimes.com

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