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SunnyRich’s Symbiotic Fishery and Electricity Project Completes NT$8.88 Billion Syndicated Loan, with 200% Participation

published: 2022-08-09 9:30

The "SunnyRick Fishery and Electricity Symbiosis Project" held the signing of an NT$8.88 billion syndicated loan today (9th) which was highly supported by the banking syndicate, and setting a record for the biggest fishery and electricity symbiosis syndicated loan in Taiwan this year.

At the end of last year, SunnyRich planned to build a 262MW project site for fishery and electricity symbiosis. The construction of the first phase of 130MW has already started and power generation started in April this year. Now it has received great support from banks and construction on the entire project will be accelerated. Construction of the second phase is expected to start in 2023 and investment for the entire project is estimated to reach NT$20 billion.

Kuei-Kuang Chen, chairman of SunnyRich stated, take the construction of a 312MW solar power generation device with more than 400 million kWh of electricity a year as an example, a greenhouse epidemic-proof shrimp pond under a structure of this scale should be able to produce more than 400 million shrimp per year. It is equivalent to "1kWh raising one healthy and fresh shrimp."

"SunnyRich Fishing and Electricity Symbiosis" uses solar power technology to reduce carbon emissions and focuses on valuable whiteleg shrimp and tiger prawn. Combining the advantages of AI technology, farming technology, and the resources of seven major technology farming management centers. The healthy and pollution-free end-products, “Sunny Shrimp” has attracted Shin Kong Steel and SMFL MIRAI Partners Future Partner International Investment Holdings Co., Ltd., a subsidiary of Sumitomo Mitsui Financial Leasing Co., Ltd. to take stakes in the company.

The coordinating co-lead underwriters in the syndicated loan include China Trust, Bank SinoPac, Cathay United, and Fubon. Co-lead underwriters include DBS, KGI, Land Bank, Mega, Agrifinance, Bank of Kaohsiung, First Commercial, and O-Bank. Manager institutions are Bank of Panhsin and Taiwan Business Bank. Participating banks include Bank of Taiwan, Shanghai Commercial and Savings, Taiwan Shin Kong Commerical, and Chang Hwa Bank.

Shen Jong-chin, Vice Premier of the Executive Yuan, also attended the joint loan press conference and Sunny Shrimp signing ceremony today. When talking about energy transition, he thinks it is a very important policy. For Taiwan’s export based economy, the use of green electricity is a necessary condition for Taiwan to continue competing in the world.

Shen Rongjin said that Taiwan's solar installations are now at 8.78GW, which is six times that of 2016. On June 24 this year, the solar power supply at noon was as high as 13.7%. Now the government has taken inventory of various land and sensitive areas and it is estimated that there are about 14,480 hectares of land. Taipower has also strengthened feeders to jointly promote the booster stations and will work together with the industry.

(Image: TechNews)

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