New Development Bank Approves EUR 273 Million Loan for Putian Pinghai Bay Offshore Wind Project

Source: NDB

The Board of Directors of the New Development Bank (NDB) has approved a CNY 2 billion (EUR 273.3 million) loan for the Putian Pinghai Bay offshore wind power project in China.

Under the framework of Putian Pinghai Bay project agreement, the NDB will provide the Chinese government with the sovereign project loan for the 250MW Phase 2 of the offshore wind power project proposed to be set up in the Pinghai Bay in Putian, Fujian Province.

The project in Putian has one of the largest installed capacities among projects with similar design in China, NDB said.  It is estimated that the wind farm will generate 873 million kWh of electricity every year and cut 869,900 tons of carbon dioxide emission annually.

A relative newcomer to the world of infrastructure investments, NDB was created with a vision to support and foster infrastructure and sustainable development initiatives in emerging economies.

The founding members of the NDB – Brazil, Russia, India, China and South Africa (BRICS) – have paid in capital of USD 1.5 billion thus far as capital contributions.

With the signing of the Headquarters Agreement with the Government of the People’s Republic of China and Memorandum of Understanding with Shanghai Municipal People’s Government in February 2016, the bank became fully operational.

Share this article

Follow Offshore Wind

Events>

<< May 2017 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

6th ANNUAL ADVANCED SUBMARINE POWER CABLE AND INTERCONNECTION FORUM

The event will cover such topics as:
* FAB Link Interconnector – Development Update…

read more >

2nd ANNUAL OFFSHORE WIND OPERATIONS AND MAINTENANCE FORUM

The Forum will give the full update on the O&M effective practices and their perspectives, providing industry developers new tools…

read more >

International Conference Wind Farm Lifecycle Management

The only networking event discussing aging of turbines and related lifecycle strategies!…

read more >

Nacelle Engineering: Wind Energy Power Conversion Summit 2017

Innovation of nacelle components is the very key to the reduction of LCoE and thus to make wind energy competitive…

read more >

Jobs>

Project Manager Shiprepair Dunkerque

The project departments within the Damen Shiprepair & Conversion yards are managed by a Head of Projects or directly by the MD of the yard ...

apply

Network Support Engineer

As Network Support Engineer you will be responsible for the installation / configuration, operation and maintenance of the infrastructural network ...

apply

Offshore wind jobs at Shell Netherlands BV

Commercial Lead New Energies, Offshore Wind Operations Lead and Wind Turbine Engineer.

apply

Vessels>