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The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed on December 13 a loan agreement amounting to up to approximately USD36.133 million (JBIC portion) with Sojitz Corporation (Sojitz). The loan is co-financed with a private financial institution, bringing the total co-financing amount to approximately USD60.224 million.
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In the project, Edenvale Solar Park Pty Ltd., which is an Australian company jointly invested in by Sojitz and ENEOS Corporation, will construct, own, and operate a 204MW solar photovoltaic plant in the State of Queensland, Australia and sell the electricity generated by the project to multiple buyers including a local electricity retailer and the electricity wholesale market.
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The loan is intended to finance, through Sojitz, the funds necessary for the project. Sojitz aims for expanding its renewable energy business in its Integrated Report 2021 released in September 2021. The loan will support Sojitz’s overseas business expansion, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
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As Japan’s policy-based financial institution, JBIC will continue to provide financial support to assist Japanese companies in the overseas expansion of their businesses by drawing on its various financial facilities and schemes for structuring projects.
