This year, the financing difficulties of photovoltaic power plants have always plagued the entire industry. On December 16, the distributed photovoltaic "sunshine loan" launched by Shanghai sparked a wave of waves in the industry. According to the Circular on the Implementation of Distributed Photovoltaic "Sunshine Loans" (hereinafter referred to as the "Notice") issued jointly by the Shanghai Municipal Development and Reform Commission and the Shanghai Municipal Bureau of Finance, Shanghai will be based on the existing SME Financing Guarantee System. In the past, the Shanghai Municipal Energy Conservation and Emission Reduction Center was commissioned as a third-party industry service organization responsible for the construction of a “Sunshine Loan†project management and testing platform. China Insurance Group Shanghai Branch temporarily assumed the specific guarantee business, and the pilot banks that promised preferential interest rates acted as lenders. Sun Liping, an industry researcher at Beijing Jian Heng Certification Center, said in an interview with reporters that the "Notice" gave full play to the greatest advantage of the photovoltaic power plant - stable profits, the value of the power station was realized, and the funds of the distributed photovoltaic power generation enterprises were mobilized to solve the problem. The problem of funds in investment in photovoltaic power plants. High social credibility According to the statistics of photovoltaic power generation released by the National Energy Administration in October of the first three quarters of this year, Shanghai's cumulative installed PV power has reached 300,000 kilowatts, of which photovoltaic power station is 70,000 kilowatts. In the first three quarters, the new installed capacity was 120,000 kilowatts, and the new photovoltaic power station was 50,000 kilowatts. It is understood that the loan target for this "Sunshine Loan" is the distributed photovoltaic project invested by Shanghai-based small and medium-sized enterprises that are registered in the city (mainly based on the nearest development and utilization). The loan period is divided into 1-year, 3-year, and 5-year project loans, and companies are free to choose. The loan amount is that the single loan amount does not exceed 70% of the project investment, and the accumulated loan balance of a single company does not exceed 15 million yuan. The bank loan interest rate is, in principle, the benchmark interest rate of the People's Bank of China (which does not exceed 15% of the maximum value of the project). The guarantee company collects guarantee fees at an annual rate of 1%. The "Notice" clearly stated that a hierarchical cooperation review mechanism should be established. The Shanghai Municipal Energy Conservation and Emission Reduction Center, banks, and guarantee companies review the project quality, corporate personal credit, and guarantee quality. In order to simplify the process, the Shanghai Energy Conservation and Emission Reduction Center will accept materials in a unified manner. At the same time, a coordination mechanism is established. For the disputed projects, the Shanghai Energy Saving and Emission Reduction Center can organize meetings to coordinate the opinions of various parties. Establish a risk sharing mechanism. If there is a bad debt default, after the bank performs due recovery, the city's SME financing guarantee special fund will be shared with the bank at a ratio of 90% to 10%. Among them, the share of special funds is shared by the municipal and district finances at a ratio of 60% to 40%. An analyst in the photovoltaic industry pointed out in an interview with reporters that the "Notice" was unique. Before that, China has never issued a form of loan that provides financial guarantees for new energy sources such as wind power, centralized photovoltaics, and solar thermal. At the same time, due to government finances as a guarantee, it has strong social credibility. “ In addition, this new policy has strong operability and has better execution measures for risk control. Including the guarantee compensation rate exceeding 5%, in principle, the “Sunshine Loan†project will be suspended, and the supervision of a third-party institution will be introduced. "The analyst said. Good for SMEs The biggest highlight of the "Sunshine Loan" launched in Shanghai was the first time that a distributed photovoltaic project "has to use a quality guarantee equipment mortgage guarantee company. The project's future income rights such as electricity charges and subsidies must be pledged to a security company, and Shanghai's energy saving and emission reduction The center shall cooperate with the guarantee company to implement related pledge and mortgage procedures for the loan company." "This can greatly solve the problem of capital shortage for project development companies," Sun Liping said. “The benefits of distributed PV power plants are very stable. As a collateral, the value of the power plant can be fully reflected, and the capital of project development companies can be mobilized to solve the capital problem in power station investment.†It is understood that due to the development of large-scale photovoltaics Power station companies are generally large in scale, with high credit ratings and relatively easy loans. The hardest part of financing is the development of distributed photovoltaic projects for SMEs. "SME credit is generally difficult to assess and appraise, relying on their own credit is difficult to loan. Now with the power plant to be developed, the cash flow of the power plant as a credence and mortgage, is a great advantage for SMEs." Sun Liping Told reporters. The "Notice" stipulates that the accumulated balance of a company's secured loans shall not exceed 15 million yuan, and it shall be measured at 70% of the project investment, and it may support the development and construction of 2 to 3 megawatts of projects. "For SMEs engaged in distributed photovoltaic development, this figure is not too small." Sun Liping said. In addition, in the "Notice", the loan procedure is also specified in detail, and strict working hours are stipulated for each link. Sun Liping said that the "Notice" clarified the time limits for various approval processes, and demonstrated the government's determination to promote the loan policy, so that distributed photovoltaic development companies are more confident in applying for loans. Distributed PV will receive more support It is worth noting that the news of the recent “crazy†PV benchmark price cuts in the industry has been basically confirmed. Some industry insiders have also lowered the benchmark price and Shanghai’s “Sunshine Loan†as a signal that they are in harmony. The aforementioned PV industry analysts, who asked not to be named, said that the introduction of these two policies can be seen in the support and encouragement of the country for the development of distributed photovoltaic projects in the east. "In the future, we do not rule out that other provinces in the east will also introduce similar incentives or innovative support policies." The analyst told reporters. It should be pointed out that Sun Liping believes that these three deadlines are all too short for the loan period of one-year, three-year and five-year loans proposed by “Sunshine Loanâ€. “General photovoltaic power plants may take six to seven years to recover investment costs at the earliest. The one-year and three-year loans are still shorter in time for companies.†However, the reporter learned from the Shanghai Energy Conservation and Emissions Reduction Center that after the expiry of the loan for the distributed photovoltaic project development company, the company will be allowed to renew the loan. In addition, the "Notice" stipulates that "If bad debts occur, after the bank implements due diligence, the city's SME financing guarantee special funds will be shared with the banks at a ratio of 90% to 10%," and the proportion of banks' commitments in the future may also gradually increase. improve. Extended reading Non-PV assets secured or secured loans 1. Investors own asset mortgages are suitable for companies whose businesses do not have loan requirements and which have large fixed assets. 2. Investors Related Enterprises The related enterprises of the guarantee investor have a certain credit rating in the bank, and the amount of their guarantee has a certain margin. At this time, it can provide guarantee services for the PV investors. 3. If the non-affiliated company’s guarantee investor does not have the above two loan conditions, it can contact certain companies that have a corporate credit guarantee quota, have a certain understanding of PV, and have a good self-development, so that they can provide guarantees for investors’ loans. As a guarantee company, you can get a corresponding return. The method of controlling the risk of security is that investors will mortgage the property rights and income rights of the photovoltaic power plant to the guarantee company; once the investor can not repay the loan, the guarantee company can take advantage of the income of the photovoltaic power plant, and its acquisition cost is 70% of the cost of the power station construction. Pledge or cash flow sale of PV assets 1. During the construction period, a loan investor can not obtain a bank's long-term loan at a time, and it needs to carry out a short-term loan during the construction period to solve the problem of the source of construction funds. There is another way to solve this type of loan, that is, through the BT method, the EPC will be used to fund the construction. This model needs to weigh the level of capital costs, but also need to consider whether EPC at this stage dares to accept this model. 2. Short-term loans This kind of loan refers to the construction of the power station and the 2 to 3 years after the power station is put into operation. The investor wants to prove to the long-term holder or the bank that the PV power station needs the bridging funds before it has stable cash flow. Such loans require investors to purchase major equipment products approved by the bank and insulate PV power plants from damages caused by major equipment damage. 3, long-term loans A. Power Generation Guarantee of Photovoltaic Power Plant EPC ─ EPC companies are responsible for compensation for the reduction of power generation caused by EPC-purchased equipment, materials, and construction quality issues; EPC companies can reduce their own risk of losses by purchasing professional liability insurance. . B. Enterprises designated by the EPC companies to operate and maintain ─ ─ O&M companies shall bear the loss of power generation due to poor operation and maintenance; O&M companies may also share risks through the purchase of professional liability insurance. C. Insurance purchased by investors—Principal equipment purchases property insurance; Loss of power generation due to accidents; Policy insurance due to regional power restrictions, access system modifications, and changes in government policies. D. The stability of construction land or housing can be divided into EPC; the change of ownership of land or house involves the registration of the lease contract signed by both parties to the property rights exchange in advance to protect the interests of PV investors. With the above points in place, the bank can issue the corresponding loan account for the financing loan for photovoltaic power plants. The additional content of the insurance relates to loans or insurance. The photovoltaic power station also needs to be tested, evaluated and supervised by a third party. Tap For Washing Machine, Washing Machine Faucet, Laundry Taps For Washing Machine, Sink Spigot Washing Machine, Washing Machine Water Tap Kaiping Jianfa Sanitary Ware Co.,Ltd. , https://www.jfsanitary.com
What are the conditions for a non-PV asset secured loan? PV asset mortgage loan
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