Neo Cathay Power Corp, a joint venture between Neo Solar Power Corporation and Cathay Life Insurance Co. Ltd., announced that its 100% owned subsidiaries Si One Corp. and Da Li Energy Corp. has secured an NT$5 billion syndicated loan led by First Commercial Bank, Far Eastern Int’l Bank, KGI Bank and Taishin International Bank.
Andy Shen, President of NSP says, "With NSP and Cathay Life's cooperation, Neo Cathay would be devoted to the development, construction and acquisition of solar systems in Taiwan. In addition, we believe that having these funds and strong support from Taiwan Government's policy to renewable energy will help to increase the speed and scale of both NSP and Cathay Life's solar systems installation."