PV power plant developer Shunfeng has announced a RMB980 million (US$162 million) loan from China Development Bank (CDB).
The funds will be used for six separate power projects in the Xinjiang Uygur autonomous region in north western China.
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Five of the projects will each have a capacity of 20MW with the sixth a 30MW development.
Earlier this week Shunfeng announced plans to develop 10GW of solar power projects by 2016 at an estimated cost of US$4 billion. It currently has 890MW of grid installed PV in the country.
The latest loan takes CDB’s lending for solar projects well over the US$1 billion mark for 2014, barely two weeks into the new year. The bulk of this was a US$942 million loan to China WindPower Group with Jinko Solar receiving US$66.1 million.
The company is also at an advanced stage in a bid to purchase stricken PV manufacturer Wuxi Suntech.
