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China WindPower Group Inks Financial Tieup with China Development Bank, Qinghai Branch

2014-01-05 18:29 2034

CWP to Obtain RMB5.7 Billion Loans in 2014 and 2015

HONG KONG, Jan. 5, 2014 /PRNewswire/ -- China WindPower Group Limited ("CWP" or "the Company," and its subsidiaries "The Group," stock code: 0182.HK) today announced that CWP has signed a financial cooperation agreement with China Development Bank (CDB), Qinghai Branch. According to the agreement, based on the existing business development plan and the financing needs of CWP, CDB Qinghai Branch will provide up to RMB 5.7 billion of project financing to CWP to support the Company's investments in over 800MW of solar power projects in 2014 and 2015,.

Mr. Yang Zhifeng, Executive Director and CEO of CWP, said: "We are grateful for the strong support that CDB is providing to the Company's solar power projects. With the continuous financial support from CDB, we will fully utilize CWP's advantages in solar resources reserves to develop more solar power projects. CWP will gradually push forward our solar power generation business to become our core business and major profit contributor to the Group."

Source: China WindPower Group Limited
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