- Region: Others
- Manufacturing and Services
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor; Tadashi Maeda) signed today loan agreements with NSG Glass North America, Inc. (NSG GNA), a U.S. subsidiary of Nippon Sheet Glass Company, Ltd. (NSG) and NSG Vietnam Glass Industries, Ltd. (VGI), a Vietnamese subsidiary of NSG respectively as shown below. These loans are provided as part of JBIC's Global Facility to Promote Quality Infrastructure Investment for Environmental Preservation and Sustainable Growth (QI-ESG).*1 These loans are co-financed with Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, Ltd., and Mizuho Bank, Ltd.
JBIC portion (max.) （Total co-financing amount） Loan for NSG GNA (U.S.) USD 100 million （Equiv. to USD 208 mil.） Loan for VGI (Vietnam) USD 54 million （Equiv. to USD 90 mil.）
These loans are intended to finance the manufacturing and sales of transparent conductive oxide (TCO) glasses for solar panels by NSG GNA and VGI. NSG GNA will use the funds made available by the QI-ESG facility to construct a new TCO glass manufacturing plant in Ohio while VGI is planning to renovate the existing plant in Ho Chi Minh City.
NSG has a long-term contract in place with First Solar, Inc.(First Solar), a United States-based company and one of the world's leading manufacturers of thin film solar modules. As demand for thin film solar modules is expanding globally, First Solar continues to scale the production of its high-performance modules. Utilizing the new plant of NSG GNA and the upgraded production line of VGI, NSG is now aiming to set up a system under which it will supply First Solar with TCO glasses that are the basic components of its solar modules. The loans will support the initiatives undertaken by NSG GNA and VGI. The project thus will contribute to maintaining and enhancing the international competitiveness of Japanese industry, and will also contribute to the preservation of the global environment by ensuring the supply of the basic components that are essential for the development of photovoltaics, i.e., a technology for generating eco-friendly renewable energy.
As Japan's policy-based financial institution, JBIC will continue to support the overseas business deployment of Japanese companies, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.