The USD 76 million loan with a maturity length of 17 years was granted to Shanghai Lingang Distributed Solar Power Project, under an agreement signed in December 2016.
A distributed solar photo-voltaic power system with a total capacity of 100 megawatts will be built on the rooftops of factories in Lingang Industrial Area. Yesterday, the first stage was launched, state-run Xinhua news agency reported.
The NDB was launched in 2015 by Brazil, Russia, India, China and South Africa as an alternative to The World Bank with an aim to funding infrastructure projects in BRICS and other developing countries.
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