CDB lends USD-33m to Shunfeng PV for 30-MW solar farm
Sep 30, 2013 - Shunfeng Photovoltaic International (HKG:1165) said Sunday it had obtained a CNY-200-million (USD 33m/EUR 24m) credit facility from China Development Bank (CDB) to back the construction of a 30-MW solar park.
Shunfeng Photovoltaic, which makes solar photovoltaics (PV) and also develops solar parks, said the loan had been extended to its 99%-owned unit Suntech (Hami). The subsidiary will allocate the funds to support the first 30-MW phase of a solar plant, currently being build in China’s northwestern Xinjiang Uygur Autonomous Region.
The interest rate of the facility will be set according to the prevailing market rate. Suntech (Hami) will pay down any outstanding balances of the loan with the respective accrued interest by September 28, 2029.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.