Finance

Maps available for selected companies using pull-down menus for participant type above

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

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 2018.

Rank

Finance providers

Projects number

Capacity MWAC

1

32

1,187

2

Abu Dhabi Water and Electricity Company [AE]

1

938

3

World Bank

5

716

4

Santander [ES]

14

636

5

Deutsche Bank [DE]

21

617

6

Overseas Private Investment Corporation [US]

14

526

7

Sumitomo Mitsui Banking [JP]

22

388

8

Clean Energy Finance Corporation [AU]

13

365

9

Development Bank of Southern Africa [ZA]

10

347

10

Export-Import Bank [CN]

3

330

11

Kreditanstalt für Wiederaufbau [DE]

11

313

12

Wells Fargo [US]

3

297

13

Norddeutsche LandesBank [DE]

27

281

14

Rabobank [NL]

9

273

15

Asian Development Bank

15

270

16

US Bankcorp Community Development Corp [US]

6

257

17

Bank of Tokyo [JP]

17

256

18

Inter-American Development Bank [US]

12

224

19

Australian Renewable Energy Agency [AU]

14

219

20

Keybanc [US]

11

216

21

HSH Nordbank [DE]

13

213

22

Banco do Nordeste [IT]

1

210

23

Mizuho Bank [JP]

5

208

24

China Development Bank [CN]

6

202

25

Natixis [FR]

12

179

26

EBRD (European Bank for Reconstruction and Development)

8

170

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 5.9% of the operating capacity on the Wiki-Solar Database (of which these top 26 account for 5.2%). The total capacity for finance providers listed may therefore be on average up to 15 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.

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