29 Oct '12, 8pm

China Development Bank Gives Sky Solar $1.6B Loan for Downstream Development

China Development Bank Gives Sky Solar $1.6B Loan for Downstream Development

In a press release issued by Sky Solar , CEO Amy Zhang expressed gratitude for the CDB’s decision in light of “complex feelings regarding the PV industry.” Zhang added, “Signing this agreement symbolizes the beginning of China’s state-owned financial institutions offering credit facilities to downstream independent PV developers, investors and IPPs.” In addition to providing Sky Solar with financial support for project development and construction, CDB will also make available “a full array of financial products and services” including bonds, securities, equity, debts, loans, and leasing. It is thought that the CDB’s bankrolling of downstream efforts will be a viable solution to the present overcapacity glut threatening China’s solar market. “Investing in the upstream only creates production, whilst investing in the downstream increases demand for production,” Zhang said. ...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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