Finance

Wiki-Solar

The authority on utility-scale solar power

Maps available for selected companies using pull-down menus above or hyperlinks below

Leading finance providers for utility-scale solar projects

This category was added to the Wiki-Solar Database later than most of the other roles, so there is less data available, and these rankings are less reliable than others in this section of the website (see notes below right).

This list is based on the figures available at the end of 2014..

Rank

Finance providers

Projects number

Capacity MWp

1

Development Bank of Southern Africa [ZA]

10

347

2

HSH Nordbank [DE]

9

232

3

Overseas Private Investment Corporation [US]

6

184

4

China Development Bank [CN]

6

153

5

Deutsche Bank [DE]

12

148

6

International Financial Corporation

7

129

7

Asian Development Bank

6

127

8

Investec [ZA]

11

123

9

KfW Kreditanstalt für Wiederaufbau [DE]

8

116

10

North American Development Bank [US]

8

111

11

VTB Capital [RU]

1

90

12

Santander [ES]

2

78

13

Royal Bank of Scotland [GB]

15

74

14

Standard Bank [ZA]

2

73

15

Mizuho Corporate Bank [JP]

2

72

16

M&G Investments [GB]

5

68

17

FirstRand Bank [ZA]

3

66

18

Old Mutual [ZA]

3

66

19

Barclays Bank [GB]

3

63

20

Prudential Capital [GB]

1

63

The role of the finance providers

Most owners choose to share the total capital investment in solar power projects by seeking some debt or bond finance alongside the equity, which they contribute. Developers may also make a similar decision at earlier stages of the project.

This non equity finance may be provided by banks or other financial institutions, which we refer to as finance providers.

The finance providers may be compensated either with interest, or with a share of the revenue. Either way they will want to satisfy themselves about the capabilities of the EPC and O&M contractors selected and the quality of key components, such as solar modules and inverters.

Basis of the data used

The data used for the analysis and the table on the left is derived from operating projects of 4MWAC+ on the Wiki-Solar Database, according to these criteria.

Non-equity financers are identified against 9.9% of the operating capacity on the Wiki-Solar Database (of which these top 20 account for 6.6%). The total capacity for finance providers listed may therefore be on average up to 10 times that identified here (though some do confirm details of their portfolio to Wiki-Solar).

Some finance providers listed also provide equity, so may be listed as owners of some in utility-scale projects. Any figures quoted here apply only to their non-equity provision of debt or bond finance. Where companies have maps, however, these will show all their projects.

Non-equity finance

To contribute to the capital cost of large scale solar projects debt finance is provided alongside the owners' or developers' equity

The Toul-Rosières solar park in France, one of a portfolio of projects for which HSH Nordbank has provided finance