Sept. 29 (Bloomberg) — A unit of General Electric Co. and
partners will get a 90 billion yen ($822 million) loan from
Japanese banks to build a 231-megawatt solar power station in
western Japan.
GE Energy Financial Services, Toyo Engineering Corp., and
Kuni Umi Asset Management Co. will build the 110 billion yen
station in Okayama prefecture, the companies said in a statement
today.
Construction will start in November and the station will
start running in 2019, according to the statement.
The Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank, and Sumitomo
Mitsui Banking Corp. will serve as lead arrangers of the 22 1/2-year syndicated loan, which will also be provided by regional
financial institutions.
To contact the reporter on this story:
Chisaki Watanabe in Tokyo at
cwatanabe5@bloomberg.net
To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Iain Wilson, Abhay Singh