Shunfeng gets $162m CDB loans

Shunfeng is trying to buy Suntech's main unit in China

Shunfeng is trying to buy Suntech's main unit in China

Chinese solar group Shunfeng said it has secured a total of 980m yuan ($162m) in loans from China Development Bank (CDB) to help build 130MW of PV projects in its home country.

Shunfeng – which is currently attempting to close a deal to buy the main Chinese arm of fallen solar giant Suntech – said the loans are to six of its subsidiaries for projects in the 20MW and 30MW range.

All the projects are in the Xinjiang Uygur Autonomous Region.

Shunfeng’s chairman this week told Chinese media the company wants to build 9GW of PV in China over the next three years.

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