Putian Pinghai Bay Offshore Wind Power Project (NDB-putianpinghaibayoffsh)

Countries
  • China
Where the impacts of the investment may be experienced.
Specific Location
Putian city, Fujian province
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
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 22, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
People's Republic of China
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 279.78 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported RMB 2.00 billion
Converted using 2019-10-06 exchange rate.
Loan Amount (USD)
$ 279.78 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported RMB 2.00 billion
Converted using 2019-10-06 exchange rate.
Project Cost (USD)
$ 693.85 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported RMB 4.96 billion
Converted using 2019-10-06 exchange rate.
Primary Source

Original disclosure @ NDB website

Updated in EWS Nov 20, 2019


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Project Description

According to the bank document, the project aims to increase offshore wind power capacity in Putian Pinghai Bay to provide adequate electricity supply to Fujian province and to catalyze offshore wind energy development with technological advances. The NDB will support the project by providing financing to the cost of equipment and civil works. The project is estimated to have a capacity of 3,490 hours of effective electricity generation per year. This capacity will provide electricity of 873 million kWh per year, to meet the demand of rising power consumption in Fujian province.

The project is the second phase of a three-phase project. All three projects combined have a total targeted capacity of 700 MW offshore wind power. In phase one, 10 turbines were constructed with a total power capacity of 50 MW. In phase 2, a capacity of 250 MW will be added over a period of 3 years, building on the existing turbines. In phase 3, a feasibility study is being conducted for an additional targeted capacity of 400 MW.

The project is estimated to be implemented over 3 years by Fujian Investment and Development Group Co., Ltd. The suppliers for the project will be selected through a competitive bidding process, open to all NDB member countries. Procurement will proceed in accordance with the national framework and NDB's Procurement Policy.

Investment Description
  • New Development Bank (NDB)

The total cost of the project is estimated to be RMB 4.96 billion. The NDB will support the project through a long-term loan of RMB 2.00 billion. The Loan will be repayable in 30 semi-annual equal principal installments, over a period of 15 years starting from 2020, with a grace period of 3 years.

New Development Bank RMB 2000 million (US$ 279.78 million)

Fujian Investment and Development Group Co., Ltd RMB 990 million(US$ 138.5 million)

Chinese banks RMB 1970 million (US$ 275.58 million)

 

 

Private Actors
Contact Information

*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.