Non recourse means the financing is secured and ring fenced around the specific single project asset. Usually means the project has to demonstrate the ability to generate strong and positive cash flow from a reliable 3rd party to support such financing. In other words an off take party like a government entity or strong investment grade corporate entity. Interest cover to EBTDA would need to be at least 2x times and more like 4x for a lender to support non recourse financing.
Non recourse means the financing is secured and ring fenced...
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