China Development Bank

Hong Kong-based China WindPower Group and China Asset Management Capital have signed an three-way MOU with a unit of China Development Bank and to invest in solar power projects inside and outside China.

A high profile fund to buy renewable energy assets, announced in October as a partnership between private equity firm Terra Firma and the China Development Bank, is going ahead on a smaller capital base after the Chinese bank failed to commit.

A slew of announcements over the past few days have done nothing to shed any light on India’s wind power market, the world’s third largest, which, to be gentle, seems to be in an endless state of flux. In a Bloomberg report on Monday a spokesman for Mytrah Energy, the country’s third largest wind developer, warned that the rate of new wind turbine installations was in a free-fall and would continue to be so due to the government’s inability to formulate a sound policy to support the industry. The country may install as little as 1,500-MW of capacity by the year ending March 31, about half what it did the previous year

Read Full Story Chinese wind-turbine makers have made major inroads into the burgeoning South American market by offering government-backed loans at interest rates as much as 50 percent lower than local offerings, according to an in-depth Bloomberg report yesterday.

In another sign that China is ready and willing to prop up its embattled solar in industry, Shanghai-based  photovoltaic (PV) technology and project developer Sky Solar Holdings announced last week it had secured a credit facility worth RMP10 billion (USD1.6 billion) from China Development Bank Corp.