News

Power Utility

Staff Reporter

, China

Published:

13 years ago

ADB approves $240M loan to China WindPower

ADB has agreed to lend China WindPower $240 million to build and operate up to 800MW of new wind farms by 2013.

The loan will be financed partly from the proceeds of ADB’s landmark US$182 million bond issued in Hong Kong in October 2010.

ADB will also provide an additional loan of up to US$120 million for the project through a B-loan.

According to ADB, China is expanding the use of renewable energy resources and is scaling up plans for installed capacity of 150GW of wind power by 2020.

The wind farms will be located mainly in Jilin province, Northern China, reports The Asset.

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