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CDB pledges a $3 billion USD loan to Reliance Power for renewable energy projects
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Reliance Power Limited |
| Country | India |
| Start Date | Jul 02, 2012 |
| End Date | Apr 26, 2033 |
| Duration | 7,603 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 42742 |
Grant Description
CDB Pledges a Loan of $3B USD to Renewable Energy Project in India On July 2, 2012, Reliance Power Ltd. and Guangdong Mingyang Wind Power Industry Group Ltd. signed a memorandum of understanding (MOU) to co-develop up to 2,500 MW renewable energy projects over 3-years to be financed through a 3 billion USD investment by China Development Bank Corp (CDB).
The two companies represent some of the largest private sector power companies within their respective countries.
On November 26, 2012, at the second India-China "Strategic Economic Dialogue" held in New Delhi, China Ming Yang Wind Power Group Limited (Ming Yang) announced that its subsidiary Guangdong Mingyang Wind Power Industry Group Ltd. entered into a financing framework agreement with Reliance Power Ltd. and China Development Bank (CDB).
Under the agreement, Ming Yang is expected to provide total engineering, procurement and construction solutions for the projects and Reliance Power is expected to play a supporting role in facilitating the projects in addition to providing local market support.
CDB is expected to act as the coordinating bank and the lead potential lender for renewable energy projects in India to be jointly developed by Ming Yang and Reliance Power.
Sources & References
- MY Signs Financing Framework Agreement for Renewable Energy Projects with Reliance Power and China Development Bank
- Ming Yang Signs Deal To Develop 2.5 GW Of Wind Projects In India
- CHINESE WIND POWER FIRM SIGNS PACT WITH RELIANCE POWER
- MY Signs Financing Framework Agreement for Renewable Energy Projects with Reliance Power and China Development Bank
- 中印战略对话签署52亿美元协议 (China-India Strategic Dialogue Signs $5.2 Billion Agreement)
- Ming Yang signs financing framework agreement for projects in India Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Reliance Power Limited
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