The PV power plant project development arm of GCL-Poly has signed an agreement with CMB Nanjing bank for solar PV project financing and other corporate activities.
GCL New Energy said it had tentatively secured financing from CMB Nanjing totalling RMB8.0 billion (US$1.3 billion) that will run for a provisional two years.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Or continue reading this article for free
CMB Nanjing was also said to be providing settlement services, financing needs and wealth management on a priority basis to GCL New Energy as well as providing
principal underwriting for project revenue notes, asset-backed medium-term notes, and funds for mergers and acquisitions.
GCL New Energy recently said that it was currently negotiating with several banks in both Hong Kong and China for additional financing.
The company is targeting 2GW of additional grid-connected installations in 2015.
