IFC finances Gansu wind farm

    December 14, 2010 | BY

    clpstaff &clp articles

    The International Finance Corporation (IFC) has financed the development and construction of a wind farm in Gansu Province, located in western China. China…

    The International Finance Corporation (IFC) has financed the development and construction of a wind farm in Gansu Province, located in western China. China WindPower Group is the project sponsor.

    The project is the 201 MW (megawatt) Gansu Guazhou Ganhekou No.8 Wind Farm and it is expected to be operational in 2011. Once completed, this wind farm will reduce over 420,000 tonnes of carbon dioxide emissions per year and it paves the way for the other 18 comparable wind power facilities currently under development in Gansu Province.

    This project financing was the first foreign loan to have been registered at the local State Administration of Foreign Exchange.

    IFC was advised by an Allen & Overy team led by Hong Kong-based Roger Lui, and Jun He Law Offices served as its PRC counsel. Zhong Lun Law Offices represented China WindPower Group. Appleby was offshore counsel to IFC

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