China Sunergy secures USD 160m in China Development Bank loans

China Sunergy secures USD 160m in China Development Bank loans

Aug 18, 2011 - Solar product maker China Sunergy (NASDAQ:CSUN) yesterday said it had arranged USD 160 million (EUR 111.2m) in credit facilities with China Development Bank to fund its growth.

The company's two Chinese units, China Sunergy (Nanjing) Co Ltd and CEEG (Nanjing) Renewable Energy Co Ltd, have signed the credit agreements and will use the loans for cell production capacity expansion and for working capital needs.

The facilities include a combination of long-term and short-term loans, China Sunergy said.

(USD 1 = EUR 0.695)

Choose your newsletter by Renewables Now. Join for free!

More stories to explore

Canadian Solar unit targets USD 845m in Shanghai IPO

Canadian Solar unit targets USD 845m in Shanghai IPO

May 31, 2023 8:36 CEST

WoodMac sees global floating solar market exceeding 6 GW by 2031

WoodMac sees global floating solar market exceeding 6 GW by 2031

May 29, 2023 11:57 CEST

Solar investment to outpace oil spending for the first time - IEA

Solar investment to outpace oil spending for the first time - IEA

May 29, 2023 11:21 CEST

Energy majors put the squeeze on renewables specialists

Energy majors put the squeeze on renewables specialists

May 25, 2023 15:31 CEST

JinkoSolar plans investment of almost USD 8bn in new Chinese factories

JinkoSolar plans investment of almost USD 8bn in new Chinese factories

May 24, 2023 14:23 CEST

China’s solar exports surge by 64% in 2022 - WoodMac

China’s solar exports surge by 64% in 2022 - WoodMac

May 23, 2023 14:59 CEST

Published Aug 18, 2011 14:30 CEST

Author Yurkie Ali

Share this story

Tags

About the author

Yurkie Ali

More articles by the author

5 / 5 free articles left this month

Get 5 more for free Sign up for Basic subscription

Get full access Sign up for Premium subscription