Taya Group’s Subsidiary, Jhih-Guang Energy, Receives a Syndicated Loan Worth NT$5.7 Billion for the Largest Symbiotic Zone for Fishery Electricity in Taiwan

published: 2021-09-02 16:46 | editor: | category: News

Further progress has been made regarding the 120MW symbiotic zone for fishery electricity in Qigu of Tainan (hereinafter “the Qigu Project”). Jhih-Guang Energy, a subsidiary of Taya Group, signed an NT$5.7 billion (US$205 million) syndicated loan agreement with eight banks on August 31.

In recent years, the Taiwanese government has endeavored to promote the symbiotic application of fisher electricity (SFE) as part of its solar energy agenda, with the hope of upgrading local aquaculture, optimizing land use and encouraging the use of renewable electricity generation as a new economic approach. Ryan Shen, Chairman of Taya Group, indicated that Taya has long specialized in renewable energy development. The Qigu Project, aiming at the new economic advantage of SFE, complies with the government’s solar energy agenda.

Jhih-Guang Energy, which was acquired by Taya Green Energy Technology earlier this year, accomplished an NT$5.7 billion syndicated loan deal on August 31. The agent bank, Bank SinoPac, invited its counterparts (i.e., KGI Bank, Yuanta Bank, O-Bank, Taishin Bank, Bank of Taiwan, Cathay United Bank, and Hua Nan Bank) to join this financing project. The deal—of which the amount will all be applied to site construction—is oversubscribed 1.6 times, totaling NT$9 billion (US$324 million).

Being set to be located at Sanguzi in Qigu District of Tainan City, the PV plant will occupy an area of 160 ha with total capacity of 120MW. The first-phase construction (85MW) is likely to be completed and launched by the end of 2022. The second-phase construction, with capacity of 35MW, will be accomplished by 2023. The plant is expected to generate 3 billion kWh of power in the next two decades, equaling to the carbon sequestration amount of 4,110 Daan Forest Parks, of which the revenue can exceed NT$12 billion (US$433 million).

By jointly establishing aquaculture sites and PV facilities, Taya Group intends to improve fishery environments, increase land use diversity and encourage distributed generation, thereby creating a win-win situation for all parties. After the PV plant of Jhih-Guang Energy is connected to the grid, Taya Group will have 62 PV plants—with total capacity of 250MW—that contribute NT$1.5 billion to electricity generation revenue every year.

 (The first image a schematic diagram illustrating the 76-MW PV plant in Xuejia District of Tainan; source: Taya Group)

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