China Development Bank Corp. agreed to provide 30 billion yuan ($4.8 billion) of funding to China Guangdong Nuclear Power Holding Co. over the next three years to develop wind power projects at home and abroad.
Loans, bonds and leasing may be used to finance the construction and operation of the wind farms, the state-owned bank said in a statement on its website yesterday. The terms weren’t disclosed.
Guangdong Nuclear unit CGN Wind Energy Ltd. has more than 4.3 gigawatts of projects completed or under construction across 20 Chinese provinces including Inner Mongolia, Jilin, Gansu and Guangdong, according to the statement.
The lender has extended a combined $12.5 billion credit line to Chinese wind-turbine makers Xinjiang Goldwind Science & Technology Co. and Sinovel Wind Group Co. since 2010.
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