The Chinese government has secured a CNY 2 billion (US$290 million) loan from the New Development Bank (NDB) for the development of the Putian Pinghai Bay offshore wind power project.
The project involves the construction of the 250 MW Phase 2 of the offshore wind power project, which will be located in Pinghai Bay in Putian, Fujian Province. It comprises 50 turbines from Netherland-based manufacturer XEMC Darwind.
The project will hold a great capacity among other similar projects in China, estimated to generate 873 million kWh of electricity every year.
NDB was created with the aim to support and improve infrastructure and sustainable development initiatives in emerging economies.