Project: Shandong Zhonghua Power
Date: May 1998
Amount: $2.2 billion
Global arrangers: Greenwich NatWest, IBJ Asia, Société Générale
At $2.2 billion, the Shandong Zhonghua power financing, signed in May, is the largest independent power project deal in China to be funded on a limited-recourse project finance basis.
The project, 70%-funded ($1.5 billion) by limited-recourse debt financing with the rest made up of equity, is sponsored by Shandong Electric Power Group (37%), Shandong International Trust (14%), China Energy Investment (29%), and Electricité de France (20%).
The $1.5
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