ADB Finances Wind Farms to Help Cut PRC Greenhouse Gas Emissions

MANILA, PHILIPPINES – The Asian Development Bank (ADB) will partly finance a $73 million wind farm in the Inner Mongolia Autonomous Region to support the People's Republic of China's (PRC) efforts to cut greenhouse gas emissions and to promote private investment in renewable energy.

ADB is extending a long-term local currency loan of up to CNY164 million ($24 million) to Datang Sino-Japan Renewable Power Corporation, a joint venture between state-owned China Datang Corporation and Japan’s Kyushu Electric Power Company, Sumitomo Corporation and Sumitomo Corporation Holdings. It will be the first private-sector wind farm to be financed by ADB in the PRC.

Read the full news release.