Project Update Week Ending 18 May 2018
Project Update Week ending 18 May 2018 First Solar secures finance for May 2023, and the GST facility matures in May 2020. The Credit Facility is secured by NSW project pledges of the borrower’s assets, accounts, 11 May material project documents, and by the equity FS NSW Project No 1 Finco Pty Ltd, a limited interests in the entity. liability project financing company organized and existing under the laws of Australia and The Credit Facility contains customary an indirect wholly-owned subsidiary of First representations and warranties, covenants, Solar, Inc., entered into a term loan and events of default for comparable agreement with MUFG Bank, Ltd.; Société construction loan facilities in Australia. Générale, Hong Kong Branch; and Mizuho Bank, Ltd. (the “Credit Facility”). The Credit Source: First Solar Facility provides for aggregate borrowings of up to AUD 151.0 million ($113 million) and NOTE: First Solar is developing the 87 MW has been entered into for the development Beryl Solar Farm in NSW. and construction of a photovoltaic power plant of up to 87 MWAC located in New South Wales, Australia. Downer awarded Beryl Solar The Credit Facility consists of an AUD 140.0 Farm contract million ($105 million) construction loan 14 May facility, an AUD 7.0 million ($5 million) goods Downer EDI Limited (Downer) announced and service tax facility (“GST facility”) to fund today it had been awarded an Engineering, certain taxes associated with the construction Procurement and Construction (EPC) contract of the project, and an AUD 4.0 million ($3 worth approximately $150 million by First million) letter of credit facility.
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