Xinjiang Goldwind gets $1.6b loan for wind projects

Renewable energy is one of the seven “strategic” industries receiving government support in China.

Xinjiang Goldwind Science & Technology Co. received a credit facility worth 10 billion yuan ($1.6 billion) from Industrial & Commercial Bank of China Ltd. as China’s second-biggest turbine maker targets growth abroad, according to a Bloomberg report.

Goldwind, based in Urumqi, Xinjiang, will have access to loans supporting fixed assets, working capital, acquisitions, trade finance, project financing and export credit over the next two to three years, according an e-mailed statement today.

Read the full report here.