Guangdong Nuclear wins $4.8bn in finance for new wind farms

China Guangdong Nuclear (CGN) will receive 30bn yuan ($4.8bn) in financing from the China Development Bank to develop and operate wind farms at home and abroad.

The agreement with CDB, a state-owned bank with a mandate to help Chinese companies expand abroad, runs for the next three years.

It will include various forms of finance such as loans, debt and leasing, according to a statement on the bank’s website.

CDB is financing a number of wind farms in emerging markets, including projects being built by overseas developers. These include a 34.5MW project in Brazil being developed by Desenvix and backed by a $48.5m loan, as well as a project in Chile under construction by Irish company Mainstream…

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