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Shanghai solar energy project wins nation's first NDB loan

By Zheng Yangpeng ( China Daily ) Updated: 2016-04-18 07:49:20

A rooftop solar power project in Shanghai has become the first recipient in China of a loan from the New Development Bank, formerly known as BRICS Bank.

Shanghai Lingang Hongbo New Energy Development Co will receive the equivalent of $81 million in yuan, according to a source at the bank, who did not want to be identified.

The loan is among the first set - worth a combined $811 million - to be approved by the bank's board to fund projects in China, Brazil, India and South Africa.

Shanghai solar energy project wins nation's first NDB loan

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