• $235M non-recourse green loan for a solar manufacturing plant in Texas.
• Plant to produce 5.0 GWdc annually, creating 1,500 local jobs.
• Strengthens renewable energy infrastructure in the USA.

Standard Chartered announced the successful closing of a six-year, $235 million non-recourse senior secured term green loan. The funds will develop, construct, and operate a 1.35 million square foot solar photovoltaic manufacturing plant in Wilmer, Texas, for Trinasolar, a leading global renewable energy company.

• Standard Chartered acted as the sole lead structuring bank, bookrunner, Green Loan Coordinator, Joint Lead Arranger, Lender, and Hedge Counterparty.
• This is one of the first non-recourse solar panel manufacturing facilities financed in the USA.
• The plant will have seven assembly lines producing three types of solar modules for utility, commercial, and residential use, with a total output of 5.0 GWdc per year.

Jerry Sen Wu, Group CFO, Trinasolar, stated, “We are delighted to announce the successful signing and funding of our first syndicated project financing with Standard Chartered, marking the first non-recourse syndicated project financing in the United States raised by a PV module manufacturer and renewable enterprise. We extend our heartfelt appreciation to Standard Chartered and all our banking partners for their unwavering support in our mission to bring ‘Solar Energy for All,’ lead industry innovation, and uphold environmental protection as a core aspect of our corporate social responsibility.“

Sridhar Nagarajan, Regional Head, Project Export Finance, Europe and Americas, Standard Chartered, commented, “Trinasolar is a longstanding client, and we are delighted to assist them again in this new green project financing. In addition to boosting job creation locally in Texas, this new state-of-the-art solar panel plant will strengthen Trinasolar US’s leading position in the local solar market. We are proud to have played a key role in this project which allows us to bring to life our commitment to working with clients towards net zero using our ability to provide comprehensive, innovative, and bespoke sustainable financing solutions.“

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This financing follows a $250 million Syndicated Green Loan for Trinasolar in 2022, also arranged by Standard Chartered, used for electricity generation via solar photovoltaic technology.

By enabling the construction of this plant, Standard Chartered is helping to improve the renewable energy mix and support the transition to cleaner energy in the USA. The facility is expected to bring 1,500 new jobs to the local economy once fully operational, highlighting the positive impact on both the environment and the community.