Standard Chartered has closed on a six-year, $235 million non-recourse senior secured term green loan facility to fund the development, construction and operation of a 1.35 million square foot PV manufacturing plant in Wilmer, Texas, for Trinasolar.
Standard Chartered was the sole lead structuring bank and bookrunner for the financing and acted as green loan coordinator, as well as a joint lead arranger, lender and hedge counterparty.
The new manufacturing plant is expected to include seven PV panel assembly lines producing modules for utility-scale, C&I and residential-scale solar with a total 5 GW annual output.
“Trinasolar is a longstanding client, and we are delighted to assist them again in this new green project financing,” says Standard Chartered’s Sridhar Nagarajan.
“In addition to boosting job creation locally in Texas, this new state-of-the-art solar panel plant will strengthen Trinasolar’s leading position in the local solar market. We are proud to have played a key role in this project which allows us to bring to life our commitment to working with clients towards net zero using our ability to provide comprehensive, innovative and bespoke sustainable financing solutions.”
