Neo Solar Power Corporation (“NSP”, or “the Company”, publicly listed on Taiwan Stock Exchange, Ticker: 3576 TT), today announced that its subsidiary, General Energy Solutions Inc. (“GES”, unlisted public company, Ticker: 6466), has secured a 3-year NT$800 million revolving syndicated loan led by Yuanta Bank. The signing ceremony was held on 27th March, 2017 at NSP Hsinchu Headquarter.

Dr. Quincy Lin, Chairman of GES says “This syndication loan was led by Yuanta Bank. The other participants in this deal are Taiwan Cooperative Bank and EnTie Bank. The loan will be used for GES’s global solar system project development and construction. GES receives strong support and recognition from banks, and possess experiential track records for global solar system design & construction in Taiwan, the United States, the United Kingdom, Japan, the Dominican Republic and Dubai. The most representative projects including 25MW ‘World’s Largest Airport Solar System Project’ in Indianapolis Airport of the United States in 2014, and 34MW (Phase I) ‘Largest Solar Farm in Central Caribbean Areas’ in Monte Plata of the Dominican Republic in 2016. The syndication loan shows that Taiwan banking industry views downstream solar industry and NSP together with GES a promising future. ”

GES is currently with nearly NT$2 Billion paid-in capital, and NSP’s shareholding to GES is around 76%. The solar system projects owned & operated by GES so far is closed to 63MW, and over 125MW is under construction. The overall scale of GES’s solar system project is over 188MW. It is believed that with this proceeds, those under construction solar projects will be completed successively in 2017 and contribute considerable revenue & profit to NSP Group. In addition, in response to Taiwan government’s renewable energy policy, GES is actively participating development & construction of local solar system projects with Taiwan IPO plan ahead after holding a certain scale of solar system projects.