Sky Solar gets $1.6bn credit line from China Development Bank

Shanghai-based Sky Solar has worked with CDB on project financing

Sky Solar, a Chinese developer and investor in PV power plants, has been awarded a 10bn yuan ($1.6bn) credit facility from China Development Bank (CDB) to finance its growing pipeline of projects.

Under the agreement, which runs until 2016, Sky Solar will have access to a range of CDB products and services including equity, debt, loans, leasing, bonds and securities.

CDB will also provide priority financing support for Sky Solar’s development and construction of projects in global markets.

The Shanghai-based company says it has worked with CDB on project financing for the past two years, but the credit facility is one of the first to be awarded by a state bank to an independent solar power developer.

Chief executive Amy Zhang says the move…

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