BRICS bank approves USD 75 million loan for Shanghai Solar Power Project

Posted on:22 Dec 2016 09:54:18
BRICS bank approves USD 75 million loan for Shanghai Solar Power Project
22 December 2016 Current Affairs: The New Development Bank, jointly found by the BRICS countries approved USD 75 million (525 million yuan) loan for a solar power project in Shanghai, China on December 20, 2016.

The power project ‘Shanghai Lingang Distributed Solar Power Project’ is being developed by Shanghai Lingang Hongbo New Energy Development Co.

The loan with a maturity period of 17 years was approved under an agreement signed between New Development Bank (NDB), the Ministry of Finance and the Shanghai municipal government.

The project by Shanghai Lingang Hongbo New Energy Development is a solar photo-voltaic power plant with total capacity of 100 MW.

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