CHINA, INDIA PARTNER & BANK FUNDS INDIA WIND
MY Signs Financing Framework Agreement for Renewable Energy Projects with Reliance Power and China Development Bank
November 26, 2012 (PRNewswire via Ming Yang)
“…[The China Ming Yang Wind Power Group Limited subsidiary Guangdong Mingyang Wind Power Industry Group Limited]…has entered into a financing framework agreement…with Reliance Power Limited…the largest private sector power company in India, both in capacity under development as well as market capitalization, and China Development Bank Corporation [CDB], a government policy bank wholly owned by China's central government…”
“CDB is expected to act as the coordinating bank and lead potential lender for renewable energy projects in India to be jointly developed by Ming Yang and Reliance Power…On July 2, 2012, Ming Yang…signed a Memorandum of Understanding…with Reliance Power to co-develop up to 2,500MW renewable energy projects in India within three years…Ming Yang is expected to provide total engineering, procurement and construction solutions for the projects and Reliance Power is expected…[to provide] local market support…[CDB will] coordinate the provision of financing facilities to Reliance Power…”
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