Asian renewable energy supplier NEFIN completes acquisition of Fuzhan Green Energy

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Asian renewable energy supplier NEFIN completes acquisition of Fuzhan Green Energy

 

Published On: 14 July 2023

NEFIN has completed the acquisition of Fuzhan (~7MW portfolio of rooftop solar projects in Taiwan), and is now sole 100% shareholder. In addition, NEFIN have completed debt refinancing with Sinopac to optimize project returns. NEFIN will continue to expand on its cooperation with Sinopac in the Taiwan renewables energy sector.

NEFIN is acquiring remaining minority stake in Yuntai from its local partner. Post which, NEFIN will be sole 100% shareholder of Yuntai, which is a flagship utility scale fish solar and ground mounted solar development in Taixi, Yunlin.

These acquisitions and refinancing strategy mark the first phase of a larger target to be undertaken by NEFIN to acquire additional 150MW of shovel ready and operating type 3 solar projects, as well as develop an additional 500MW of utility scale solar projects in Taiwan. NEFIN and its affiliates have a target to exceed 1000MW of operating capacity in Taiwan by 2028. NEFIN is also looking into utility scale energy storage projects, including grid level demand and response projects.

NEFIN’s corporate PPA aggregation platform is in advanced CPPA discussions with reputable local conglomerates and MNCs, and have further capacity to serve other offtakers in achieving carbon neutrality targets in their businesses, in line with NEFIN’s mission statement.