Based in Manila, the ADB is lending about US$24 million toward the facility’s total cost of US$73 million. The wind farm is expected to produce about 133 gigawatt-hours of electricity a year and reduce China’s annual carbon dioxide emissions by 140,000 tonnes.
“The lack of finance on reasonable terms has held back the development of clean energy projects” in China, ADB investment specialist Hisaka Kimura said in a statement. “This project could become a model for future collaborations between state-owned enterprises and foreign investors in renewable energy projects, and may encourage [China’s] private sector to invest in wind-power projects.”
The development is a joint venture between the state-owned China Datang Corporation and three Japanese companies — Kyushu Electric Power, Sumitomo Corporation and Sumitomo Corporation (China) Holdings.