KB Kookmin Bank Successfully Co-Arranges $840 Million PF Financing

"Achievements of the Global IB Promotion Strategy"

Heo In, President of KB Kookmin Bank

[Asia Economy Reporter Park Sun-mi] KB Kookmin Bank announced on the 22nd that it has successfully co-led a project financing (PF) deal worth USD 840 million for a solar power plant and ESS (Energy Storage System) project in the United States.

This project is the first phase of a business by the US infrastructure private equity fund ECP to build and operate the largest solar power plant in North America with a capacity of 1,188 MW and ESS facilities of 2,165 MWh in California, USA. It is expected to play a key role in achieving California's 100% renewable energy supply mandate by 2045 and ensuring stable power supply.

KB Kookmin Bank participated as a joint lead arranger alongside global lead institutions such as Deutsche Bank, BNP Paribas, and ING Bank, submitting an investment commitment letter worth USD 100 million as part of the total syndication amount of USD 840 million.

This joint lead arrangement is regarded as a result of KB Kookmin Bank's proactive global IB promotion strategy. KB Kookmin Bank plans to use this as a meaningful opportunity to enhance its competitiveness in the global IB sector within the North American renewable energy market and to establish a foundation for new future growth engines. Woo Sang-hyun, Vice President of KB Kookmin Bank's CIB Customer Group, stated, “We will continue to actively utilize bases in advanced countries to maximize our global IB capabilities and pursue a new business expansion strategy with ESG as a core value.”

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