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First Agreement On Green Energy Construction Financial Cooperation Signed
July 14, 2008 |
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The China Guangdong Nuclear Power Group and Industrial and the Industrial and Commercial Bank of China signed an agreement on green energy construction financial cooperation recently in Shenzhen, making the agreement the first one between the bank and the enterprise.
The two parties have decided in the agreement that they will further strengthen green energy construction financial cooperation focusing on wind power, making their own contributions to clean energy, the ecological environment and the sustainable development of the society and economy.
In the agreement, CGNPG entrusts ICBC to be the leading financing bank for the loan of CGNPG's wind power projects during the Eleventh Five-year Plan. Meanwhile ICBC will offer financing support of tens of billions of yuan in accordance with the actual needs of CGNPG.
CGNPG is one of the only large clean energy groups which focuses on nuclear power in China. CGNPG's wholly-owned subsidiary CGNPG Wind Power Co., Ltd is in charge of the investment, operations and management of the wind power projects which turns to be an important strategic deployment of CGNPG to develop clean energy and renewable energy, hoping to be the first-class wind power company in China with market competitiveness, continued profitability and the ability of resisting risks.
ICBC is one of China's largest commercial banks. It will provide packaged credit solutions to the wind power projects.
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