JA Solar just announced that it has obtained 2 loans with a combined worth of RMB 620 million (about $90.8 million). The loans have a three-year term and were obtained from Export-Import Bank of China. The interest rate was not specified, but it is below China’s benchmark rate.
In a press release, Baofang Jin, executive chairman of JA Solar, commented on the loans:
“We are pleased to receive continued support from tier-1 domestic Chinese banks. … Read the rest
Suntech Power just announced that it has obtained a convertible loan for $50 million from International Finance Corporation. The 7-year loan agreement carries a fixed annual interest rate of 5.0 percent and can be converted into an ADS share for $18 per share.
In a press release, Dr. Zhengrong Shi, Suntech’s Chairman and CEO, commented on the loan:
“We are pleased that IFC, a world class investment institution that supports sustainable development, has agreed … Read the rest
Valence Technology just announced that it has applied for $608 million worth of low-interest federal loans from the U.S. Energy Department’s Advanced Technology Vehicles Manufacturing Incentive. If it receives the loans, it plans to use them to build a $760 million manufacturing plant near Austin, Texas. The planned plant would be able to supply lithium batteries for over 250,000 electric and hyrbrid vehicles each year.
Robert Kanode, Valence’s president and CEO, commented on the loan … Read the rest
Pacific Ethanol just announced that its lenders have agreed to give the company more time to renegotiate its default loan agreements. Pacific Ethanol reached two separate agreements with its lenders, both of which give the company until February 27th before the lenders begin to take action.
Currently, according to the Sacramento Business Journal, "the company is negotiating with Wachovia Capital Finance Corp. (Western) to alter terms of an operating line of credit for Pacific … Read the rest
AES Solar Energy Ltd announced that it has secured funding for 5 of its planned solar PV projects in Spain. According to the company, which is a joint venture between AES Corporation and Riverstone Holdings LLC, one of its subsidiaries obtained €70 million loan for the projects.
From RenewableEnergyWorld.com, here are more details about the terms of the loan:
… Read the resthe loan was provided by UniCredit Mediocredito Centrale of Italy and Rabobank of the Netherlands.