Three Gorges provides refinancing for the country's 405MW wind and solar power project
Chinese power giant China Three Gorges International Ltd (CTGIL) has borrowed EUR 200 million (USD 220.8m) to refinance a green loan it took out in 2022 to pay for the acquisition of wind and solar assets in Spain.
The new loan was provided by Spanish bank BBVA (BME:BBVA), which advised CTGIL in the arrangement of the original loan, the lender said on Monday.
The refinancing facility is also green, structured in compliance with the Green Loan Principles.
CTGIL, the overseas investment platform of Chinese-state owned clean energy enterprise Chine Three Gorges Corporation, used the original loan to acquire two portfolios of solar and wind assets in Spain. These contained 11 photovoltaic solar plants and one wind farm with a total combined capacity of 405 MW, BBVA said.
