Asia Clean Capital Ltd., a Hong Kong-based clean energy developer, received a $40 million project finance facility from Goldman Sachs Group Inc. to fund its rooftop solar business.
The facility will allow Asia Clean Capital to help other companies to plan and build rooftop solar projects, typically at large production facilities with power demand from one to 20 megawatts, the company said in a Jan. 15 statement.
The company invests the entire project costs and provides the design, engineering, equipment, government approvals, installation, and long-term maintenance of solar systems, according to the statement. All electricity generated from the installations is then provided to customers at agreed prices lower than the cost of power from local grids, ACC said.
The facility is part of Goldman Sachs’s plans to finance and invest $150 billion in clean energy by 2025, Kyung-Ah Park, a managing director and head of the Environmental Markets Group at Goldman Sachs, said in the statement.
— With assistance by Feifei Shen