New Financing Channel for Green Transformation of China Power
On 18 July, China Clean Development Mechanism Fund Management Center issued a reply letter, approving the provision of preferential entrusted loans for clean energy development for the newly built 100,000 KW Project of Datong Phase II Photovoltaic Power Generation Application Leading Base of Zuoyun China Power Photovoltaic Power Generating Company Limited in Madaotou Township, Zuoyun County. The granted loans of the project amounted to RMB67.00 million with the interest rate of 3.675%, which was 25% lower than the loan bearing interest of the People’s Bank of China over 5-year base.
As a policy-driven fund established with the approval of the government, China Clean Development Mechanism Fund Management Center (the "Clean Fund") is managed under a social fund model, aiming at supporting the country to cope with climate changes and actively promoting green low-carbon development. The granted Clean Fund provides a new financing channel for the new energy projects of China Power, which is another innovation in the financing for the new energy projects of China Power. The project fund is beneficial to the brand promotion of China Power to develop its clean energy projects.