Schneitec Beyond Co., Ltd.

Customer

SchneiTec Beyond Co., Ltd. has been established to construct, operate and maintain a greenfield 150MW solar PV power plant located in Pursat Province, Cambodia. Project sponsor is SchneiTec Company Ltd., the leading IPP in Cambodia. More than 450MW solar PV utility-scale power plants have been constructed and are currently being operated by the company.  

Funding Objective

DEG provides funding to construct, operate and maintain a greenfield 150MW solar PV power plant located in Pursat Province, Cambodia. The project includes a Battery Energy Storage System (BESS) of 30MW and a 22 kV transmission line (T-Line) connecting the power plant to the nearby substation.

The total project costs amount to USD 169 million to be financed by Debt/Equity of 75%/25%. DEG has been appointed to arrange the long-term senior debt financing of up to USD 127m and will contribute an amount of  USD 47 million. 

Reasons for financing

The project is expected to support the development of Renewable Energy sector and contribute to the diversification of the existing generation mix; benefit the environment, compared to alternative coal oil based generation, through displacement of GHG emissions; and to help develop local expertise to aid future development of renewable energy in Cambodia. 

Solar PV capacity is expected to increase from 0.4GW in 2023 (approx. 5% of total generation capacity) to up to 3.2 GW by 2030 (approx. 20%). The project will contribute to achieve this target. It will support the transformation of the country’s energy sector towards a sustainable future aligning with the Power Development Plan 2022. 

The transaction is thus expected to contribute to the following Sustainable Development Goals (SDGs), in particular: Affordable and Clean Energy (SDG 7), Climate Action (SDG 13), Industry, Innovation and Infrastructure (SDG 9).

DEG will be an arranger and financier of a long-term senior debt which is typically not available in Cambodia and will promote IFC Performance Standards. 

The transaction aligns with DEG’s Impact.Climate.Returns strategy as well as KfW’s transformation agena “KfW Plus”, adhering to DEG’s guidelines, by supporting Cambodia’s transition to a diversified energy supply. 

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