China WindPower gets CDB loan for 70 MW of solar projects

Dec 6, 2013 - China WindPower Group Ltd (HKG:0182) said Thursday it had secured CNY 490 million (USD 81m/EUR 59m) in loans from the China Development Bank (CDB) for 70 MW of solar power projects.

The financing, which was extended for a term of 15 years, boosts to CNY 1.23 billion the total volume of long-term project loans that CDB has provided for 150 MW of China WindPower’s photovoltaic (PV) projects.

Some CNY 340 million of the CNY-490-million loan will be allocated for the construction of a 50-MW solar plant in China’s southern province of Yunnan, while the remaining CNY 150 million will support the third 20-MW phase of a PV complex in Qinghai province, in the western part of the country.

China WindPower makes tower tube equipment, operates and maintains wind power plants and invests in wind and solar projects. The company owns eight solar parks with a combined capacity of 150 MW and has 410 MW more consented PV schemes awaiting construction. In addition, it has 530 MW of solar projects that have been granted initiation approval from the National/Provisional Development and Reform Commission (N/PDRC).

(CNY 1.0 = USD 0.164/EUR 0.120)

Choose your newsletter by Renewables Now. Join for free!