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.
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.