Neo Solar units gets long-term financing for Caribbean project

Solar system. Author: Mike Weber. License: Creative Commons, Attribution 2.0 Generic

April 25 (Renewables Now) - A subsidiary of Taiwanese solar cell and module maker Neo Solar Power Corp (TPE:3576) has secured long-term financing of USD 38 million (EUR 31.2m) for its Monte Plata solar project in the Dominican Republic.  

General Energy Solutions Inc (GES) obtained 16-year financing from the Netherlands Development Finance Company (FMO) and German Investment and Development Corporation (DEG), Neo Solar said today.

The 34-MW first phase of the Monte Plata project, touted as the largest photovoltaic (PV) system in the Central Caribbean, uses 132,000 modules supplied by Neo Solar.

According to the announcement, the 35-MW second phase of the project "keeps moving on". Upon its completion, NSP along with GES will become the largest single investor in the Dominican Republic, the Taiwanese firm said.

(USD 1 = EUR 0.821)

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Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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