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Chinese Banks funds Solar Equipment construction
18 June 2011: China Merchants Bank Co. and the state-owned China Development Bank Corp. are funding $10 billion (approx Rs 4, 550 crore) to a group of three Chinese makers of solar equipment to build sun-powered energy projects in Europe.
Goldpoly New Energy Holdings, TBEA SunOasis Company and China Technology Development Group Corp. (CTDC) are companies to come up with the solar equipment project to promote renewable energy and the German government’s plans to abandon nuclear power by 2022 will drive up demand for solar energy in the region.
Source: Bloomberg