Non-Recourse Finance

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Non-Recourse Finance

A loan secured by the revenue of the project the loan intends to fund, and nothing else. That is, non-recourse finance does not allow the bank or other lending institution access to the borrower's other assets in the event of default. This is a relatively high-risk form of financing; projects that utilize non-recourse finance generally have uncertain revenue streams and long loan periods.
References in periodicals archive ?
The HUD program provided the development team with low-rate, non-recourse financing for a 35-year term.
The 7-year, floating rate, non-recourse financing was originated out of the private lenders open-ended Mesa West Core Lending Fund.
SolarCity Corporation (NASDAQ: SCTY) has closed a new USD150 million non-recourse financing facility with Credit Suisse to support deployment of commercial solar energy systems for businesses, schools and government organizations across the US, the company said.
The solar rooftop industry will certainly need better non-recourse financing options by increasing power sector exposure limits of domestic banks," one of the players in the solar industry said.
It is the largest single solar project to secure non-recourse financing in Japan and we are confident to see more projects on a similar scale in the future," said Jorge Barredo, Chief Executive Officer of Gestamp Solar.
com) Terrace Capital announced today that it has secured $61MM in non-recourse financing for a portfolio of single tenant, industrial properties located in nine states, scattered throughout the United States.
Through this transaction, ACWA Power Barka has become the first IWPP in the Mena market to establish a non-recourse financing having its tenor extending beyond the term of its Power and Water Purchase Agreement.
Through the deal, ACWA Power Barka says that is has become the first IWPP in the entire MENA region to establish a non-recourse financing with its tenor extending beyond the term of its power and water purchase agreement (PWPA).
In October, AES Solar also completed a USD-90-million multi-borrower non-recourse financing for a 22.
ExecuJet Chief Executive Officer Niall Olver said, "ExecuJet now has a fund available for non-recourse financing, both on and off balance sheet.
8m loan in a first mortgage non-recourse financing, secured by the 124-room Residence Inn by Marriott, located in New Rochelle, New York.
Eighteen months ago, Seabreeze Harbor was illiquid and non-recourse financing was unavailable for non-performing assets," Mekras said.