Yongyao Energy Co., Ltd., a subsidiary of Singapore-based Maiora Group, announced today that it has secured a syndicated loan of NT$3.83 billion from six banks, including Bank SinoPac, EnTie Bank, KGI Bank, Taipei Fubon Bank, Bank of Panhsin, and Bank of Kaohsiung, for constructing a two-phases solar power plant project with a total capacity of 63MW in Changhua County, Taiwan. This project is the first of its kind in the Taiwan syndicated loan market, being the first large-scale ground-mounted solar project financing based on a Corporate Power Purchase Agreement (CPPA). This project symbolizes a new chapter for the development of green energy in Taiwan and will also help Taiwan move further toward its goal of achieving net-zero carbon emissions.
Maiora stated that the construction of the Yongyao power plant will adopt environmentally friendly mechanisms and methods. Part of the project land has been reserved as a wild bird protection zone, and Maiora has also committed to conducting long-term annual ecological monitoring activities over the wild birds, water quality, and soil quality testing throughout the lifetime of the project to ensure the sustainability of the surrounding environment. During operations, no chemical substances will be used for cleaning the solar panels to minimize the chance of causing any environmental impact. This approach aims to achieve the coexistence between photovoltaic development and environmental protection, demonstrating the company’s strong commitment to environmental protection and corporate social responsibility.
“The plant is expected to provide approximately 95,811,000 kWh of electricity annually, which will be sufficient to meet the demand of 30,000 households’ electricity consumption and reduce carbon emissions by about 50,000 metric tons at the same time. In addition, the site will create many job opportunities for the people living in Changhua County and engage local economic growth,” as further illustrated by Maiora.
Maiora has been long committed to promoting the development of green energy. Through close collaboration with six domestic banks, the company has successfully secured a syndicated loan of NT$3.83 billion. This is the second syndicated loan that Maiora has closed within the past six months. The joint efforts of Maiora and their relationship banks continued to bring new momentum to the development of Taiwan’s solar power industry.
Speaking of its future investment plans, Maiora emphasizes that a net-zero carbon emissions environment is an inevitable global trend, and the demand for clean energy will only continue to increase. With the new government’s intention to move forward with the second phase of the energy transition, Maiora takes a positive view on continuing to invest in more green energy projects in Taiwan and is dedicated to achieving greater sustainability.
