The bank has approved a total of CNY330m ($51.8m) for the company’s wind project with the latest grant being the final one.

China Wind Power chief executive officer Jun Liu said with the final loan proceeds in hand, we can now move forward with completing Phase II.

"This has been a long wait for our shareholders as tight credit conditions in China had caused unforeseen delays. Nevertheless, we now expect to have Phase II completed in short order," he added.

Upon completion, Phase II will employ 35 turbines which will have a combined capacity of 49.5MW of renewable energy.