Breaking News

Axis Capital & PartnerRe to Combine in $11 Billion Merger

China Development Bank Funds Wind Projects at Guangdong Nuclear

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.

To contact the reporter on this story: Feifei Shen in Beijing at

To contact the editor responsible for this story: Reed Landberg at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.