IFC has extended the loan to support the development and construction of 201MW Gansu Guazhou Ganhekou No 8 Wind Farm, a project which is a part of Jiuquan City 10gW Wind Power Base – Phase I, in a desert 60km northwest away from Guazhou County of Gansu province, one of the frontier regions in western China.
The RMB1.7bn project includes registered capital of RMB669m and the rest to be supplemented by IFC loan. This project with 400GWh annual power generation capacity and 400,000 tons of CO2 emission reduction capacity per year is expected to be operational by the end of 2010.
Liu Shunxing, chairman and CEO of China WindPower, said: “The loan and equity financing will strengthen the cooperation between China WindPower and IFC, as well as extend our financing channels which will further support our rapid growth in the future.”
