China WindPower secures USD81 million funding from China Development Bank
China WindPower Group Ltd. on Friday said that it has obtained CNY490 million (USD81 million) in loans from China Development Bank Corp. for its solar farm projects. Bloomberg, citing a statement by China WindPower, said the 15-year loans will be used to develop a 50-megawatt solar project in Yongren, Yunnan province. Part of the funds raised will also be used to construct a 20-megawatt plant in Delungha, Qinghai province.
China WindPower added that China Development Bank has provided a total of CNY1.23 billion in long-term financing to the company's 5 wholly-owned solar power projects, the report stated.
China WindPower in a statement said that the continuous support from the Chinese policy bank has provided solid capital foundation for accelerating its solar power generating business.
The Chinese clean-energy company operates eight solar power projects with a combined capacity of 150-megawatts to date, Bloomberg said.
China WindPower is the only pure vertical integrated clean energy company listed on the Hong Kong Stock Exchange, its website said.