The Asian Development Bank (ADB) said Tuesday that it will offer a 164 million yuan (US$24 million) long-term loan to a wind farm construction in China's Inner Mongolia Autonomous Region, a move to help cut greenhouse gas emissions.
The ADB's China office said the loan will go to a wind farm to be built by the Datang Sino-Japan Renewable Power Corporation, a joint venture between China Datang Corporation and Japan's Kyushu Electric Power, Sumitomo Corporation and Sumitomo Corporation Holdings.
The planned wind farm, which covers 12 square kilometers in Chifeng City of Inner Mongolia, would need a total investment of 73 million dollars.
ADB said the project would be the first private wind farm to be financed by the bank in China. The loan is also aimed at promoting private investment in renewable energy in China, it said.
The project is expected to produce about 133 gigawatt-hours of electricity a year, and cut carbon dioxide emissions by 140,000 tonnes per year.
(Xinhua News Agency July 7, 2009)