Early Warning System

Countries

China

Geographic location where the impacts of the investment may be experienced.

Specific Location

Shanghai Lingang Industrial Area, Pudong, Shanghai

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

New Development Bank (NDB)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Active

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Apr 13, 2016

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

People's Republic of China

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Climate and Environment
Energy

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 73.44 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported RMB 525 million
Converted using 2019-10-06 exchange rate.

Loan Amount (USD)

$ 73.44 million

Project Cost (USD)

$ 104.91 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported RMB 750 million
Converted using 2019-10-06 exchange rate.

Bank Documents

country-summary-disclosure_-Lingang-China

Primary Source

Original disclosure @ NDB website

Updated in EWS Nov 20, 2019

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank document, the project aims to reduce carbon emission and promote renewable energy development, through using roof-top solar photovoltaic power technology to generate electricity in Shanghai Lingang Industrial Area (SLIA). The project aims to reduce 73,000 tons of carbon emission per year, providing electricity generated through 100 MW roof-top solar photovoltaic power with 1,155 effective generation hours per year. With the benefits from near point electricity generation, the project is expected to save the costs of potential transmission losses from importing electricity from provinces outside Shanghai.

The project will be divided into more than 30 sub-projects, sequentially implemented over a 3-year period. A 3 MW onsite pilot project has been successfully implemented to prove the concept. Electricity generated by the roof-top solar photovoltaic power will be sold to SLIA and the state grid.

The project is estimated to be implemented over 3 years between 2017 and 2019. Suppliers for the project will be selected through a competitive and transparent bidding process. The loan will be repayable in 28 structured semi-annual installments over 14 years, starting from 2019.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

New Development Bank (NDB)

The overall cost of the project is estimated to be RMB 750 million over a 3-year period. The proposed financing plan includes a loan of RMB 525 million from NDB and RMB 225 million financed by Lingang Group.

New Development Bank RMB 525 million (US$ 73.44 million)

Lingang Group RMB 225 million (US$ 31.48 million)

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Lingang Group	Investor	-
-	-	-	-	Shanghai Lingang Hongbo New Energy Development Co. Ltd.	Client	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

*There is no further information being disclosed at this stage of the project*

For further information, comments or suggestions please reach out to us at info@ndb.int.