Ørsted signs Green Loan Facility for Changhua Projects in Taiwan

Ørsted has announced the signing of its five-year NTD25 billion (US$14 billion) syndicated green revolving loan facility for Greater Changhua projects. 

This green facility, guaranteed by Ørsted A/S, attracted a total of fifteen banks to join and provided excellent opportunities to local financial institutions to participate in offshore wind projects with minimal risk exposure. This is the first time that local state-owned banks in Taiwan are involved in financing offshore wind projects, also the first time for all eight state-owned banks participated in a green loan facility for offshore wind.

On 30th April 2019, Ørsted made the final investment decision for the Greater Changhua 1+2a projects. Ørsted’s treasury team together with Bank of Taiwan, BNP Paribas, and Cathay United Bank, the mandated lead arrangers, subsequently completed a roadshow with local and foreign banks in Taiwan in May. Within less than two months, the deal was finalized with the following fifteen banks joining Ørsted’s NTD25 billion (US$14 billion) Green Loan Facility: 

Stated owned banks: Bank of Taiwan, Mega International Commercial Bank, Chang Hwa Commercial Bank, Land Bank of Taiwan, Taiwan Cooperative Bank, First Commercial Bank, Hua Nan Commercial Bank, Taiwan Business Bank

Private banks: BNP Paribas, Cathay United Bank, E. Sun Commercial Bank, Taishin International Bank, CTBC Bank, KGI Bank, Deutsche Bank AG

Ørsted will fund 50% CAPEX of the Greater Changhua projects by capital contributions from the Ørsted Group combined with debt capital sourced from local Taiwanese financial institutions - backed by a Ørsted A/S parent company guarantee.