Nonrecourse Debt

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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.

Nonrecourse Debt

Nonrecourse debt is debt for which the borrower is not personally liable. If the borrower defaults, the lender can take the property used to secure the loan, but no other property of the borrower.
References in periodicals archive ?
The rankings are based on BNEFs global survey to key PV stakeholders on which module brands used in projects are most likely to obtain non-recourse debt financing from commercial banks.
Bloomberg New Energy Finance's tier system categorises hundreds of solar module manufacturers into three tiers based on bankability, the ability of solar product-related projects to acquire non-recourse debt financing from banks.
This sale was included in AES' 2016 guidance and 2017-2018 expectations; the transaction will remove a total of USD335m in non-recourse debt on its Balance Sheet as of 31 March 2016.
The power plant, located nearA Galabovo, in southern Bulgaria, will use the majority of the proceeds to repay debt to Maritza East lignite mine that supplies it, aas well as repay the lenders of the plantas non-recourse debt,a <a href="http://cts.
8 million in repairs and reserves, provide additional equity to use for future projects and move to 35-year non-recourse debt at a historically low, fixed interest rate.
The non-recourse debt included a 60 percent loan-to-value ratio, a 3.
Our leverage calculations exclude other non-recourse debt and are adjusted to exclude related EBITDA although they do include sustainable dividends.
32 million) using the proceeds of new non-recourse debt facilities arranged by Bank Muscat, National Bank of Oman and Arab Banking Corporation.
39 million debts using the proceeds of new non-recourse debt facilities arranged with Bank Muscat, National Bank of Oman and Arab Banking Corporation.
a joint venture between AES Corporation and Riverstone Holdings LLC, announced that on December 30, 2008 one of its subsidiaries closed a 70 million (Euro) non-recourse debt facility for five of its photovoltaic (PV) projects in Spain.
The sale will eliminate approximately $575 million of associated non-recourse debt from El Paso's balance sheet.