23 Nov 2016by David Foxwell The New Development Bank has confirmed that its board of directors has approved a loan for the Putian Pinghai Bay offshore windfarm project in China The New Development Bank (NDB) has confirmed that its board of directors has approved a loan for the Putian Pinghai Bay offshore windfarm project in China. The project was presented at the seventh meeting of NDB’s board of directors in Shanghai. President of the bank K V Kamath said approval of the project aimed to “meet the infrastructure needs of our members.” NDB will provide the government of China with a loan of RMB 2 billion (US$290 million) for Phase 2 (250 megawatts) of the offshore wind energy project in Pinghai Bay in Putian, Fujian Province. The project has one of the largest installed capacities of any Chinese offshore wind energy project.
The New Development Bank has approved a loan for the Putian Pinghai Bay offshore wind farm project in Fujian Province, China. With the aim of meeting the infrastructure needs of its members, the bank will loan $290m to the government of China for the construction of a capacity of 250 MW in the offshore project.