Nuveen Infrastructure has closed approximately $171 million in project financing for the ShinanSalt Farm Solar PV project, a 137 megawatts-peak solar facility located in Shinan-gun, Jeollanam-do, South Korea.
The financing was arranged by a consortium of five financial institutions, with KB Kookmin Bank serving as the lead arranger.
The Shinan Salt Farm Solar PV project, a joint investment between SK Innovation E&S and Nuveen, is the largest solar power installation of its kind on a single salt farm in Korea. The solar structures are designed to endure high salinity conditions throughout their design life, paving the way for efficient electricity generation.
A key feature of the project is its comprehensive power-purchase agreement with an SK affiliates, which will purchase 100 percent of the facility's power generation.
“This project exemplifies our commitment to identifying and financing transformative infrastructure investments that drive the cle
