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.
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
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.