Four awards in the sponsor and project categories the IJGlobal Awards 2020

Jul. 01, 2021
Marubeni Corporation

Marubeni Corporation (hereinafter, “Marubeni”) is pleased to announce that Marubeni and four of its domestic and foreign power projects were recognized at the IJGlobal Awards 2020 presented by Infrastructure Journal Global, an international project finance magazine. IJGlobal Awards are given to the best sponsor and energy and infrastructure projects in each region in that fiscal year.

1. Sponsor Category:	Recipient and Award-Winning Project
①MENA*1 Sponsor of the Year	Marubeni
2. Project Category:
②MENA Power Deal of the Year	The United Arab Emirates / Fujairah F3
③APAC*2 Renewables Offshore Wind Deal of the Year	Japan / Offshore Wind Farm at Akita Port and Noshiro Port
④APAC Renewables Floating Solar Deal of the Year	Taiwan / Changhua 1 and 2 floating photovoltaic power

 

Below, please find a summary of each award won.

①MENA Sponsor of the Year

Recipient	Marubeni
Recipient	Marubeni
Award Description	Awarded to the best sponsor in the MENA region.
Reason for Winning	Plays a market-leading role in the MENA region, shows very deep experience and exceptional reach, and teams up with strong partners to achieve great success in their deals.

 

②MENA Power Deal of the Year

Award-Winning Project	Fujairah F3 Independent Power Project in the United Arab Emirates
Award-Winning Project	Fujairah F3 Independent Power Project in the United Arab Emirates
Award Description	Awarded to the best power project deal in the MENA region.
Reason for Winning	The immediate achievement of financial close, even during the COVID-19 pandemic, and the development of the largest IPP project in Abu Dhabi.
Project Overview	Fujairah Power Company, jointly owned by Marubeni and the Abu Dhabi Government, conducts the construction of a 2,400 MW combined cycle power plant. All generated power will be sold to the Emirates Water and Electricity Company under a 25-year power purchase agreement.
Project Finance Close Date	June 2020
Lenders	Japan Bank for International Cooperation, Mizuho Bank Ltd., BNP Paribas S.A., Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, Limited and Standard Chartered Bank PLC

 

③APAC Renewables Offshore Wind Deal of the Year

Award-Winning Project	Offshore Wind Farm Project at Akita Port and Noshiro Port in Akita Prefecture
Award-Winning Project	Offshore Wind Farm Project at Akita Port and Noshiro Port in Akita Prefecture
Award Description	Awarded to the best renewables offshore wind power project deal in the APAC region.
Reason for Winning	One of Japan's most significant deals in recent years; it was the country’s first large offshore wind power project done by project financing.
Project Overview	In April 2016, Marubeni established “Akita Offshore Wind Corporation”, which is a special purpose company with OBAYASHI CORPORATION, Tohoku Sustainable & Renewable Energy Co. Inc. (currently Tohoku Electric Power Co., Inc.), Cosmo Eco Power Co., Ltd., The Kansai Electric Power Co., Inc., Chubu Electric Power Co., Inc., The Akita Bank, Ltd., Ohmori Co., Ltd., Sawakigumi Corporation, Kyowa Oil Co., Ltd., Katokensetsu. Co. Ltd, Kanpu Co., Ltd. and Sankyo Co., Ltd., and jointly promote the project. The offshore wind farm project is a project to construct, operate and maintain the offshore wind farms with approximately 140MW in total electric power to be sold to Tohoku Electric Power Co., Inc. for 20 years under a power purchase agreement based on the feed-in tariff program.
Project Finance Close Date	February 2020
Lenders	Multiple domestic and foreign financial institutions with MUFG Bank, Ltd., Mizuho Bank, Ltd., and Sumitomo Mitsui Banking Corporation jointly acting as the joint mandated lead arrangers.

 

④APAC Renewables Floating Solar Deal of the Year

Award-Winning Project	Changhua 1 and 2 floating photovoltaic power project located in Changbin Industrial Park in Changhua County, Taiwan
Award-Winning Project	Changhua 1 and 2 floating photovoltaic power project located in Changbin Industrial Park in Changhua County, Taiwan
Award Description	Awarded to the best floating photovoltaic power project deal in Asia-Pacific region.
Reason for Winning	The project will serve as the benchmark for future floating photovoltaic power project development in this region, since it was the first offshore photovoltaic power project done by project finance in Taiwan. Additionally, the size of the power plant is 1.8 square kilometers, which is one of the largest offshore floating photovoltaic power stations in the world.
Project Overview	Chenya Energy Co., Ltd., which is a 100% subsidiary of Marubeni Corporation, led the design, procurement, construction, operation and maintenance of the project. The power generated will be sold for a 20 year period to Taiwan Power Company, which is publicly owned by the Taiwan Government.
Project Finance Close Date	March 2020
Lenders	DBS Bank, E.SUN Commercial Bank, First Commercial Bank, KGI Bank, Sumitomo Mitsui Banking Corporation, Bank SinoPac, and Société Générale

 

Marubeni will leverage its substantial experience with IPPs to achieve environmental load reduction and stable power supply, thus contributing to the creation of a sustainable society.

 

1　MENA: Middle East and North Africa

2　APAC: Asia-Pacific

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