China Development Bank Gives Sky Solar $1.6B Loan for Downstream Development

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The China Development Bank (CDB), largely considered to be the main engine behind the Chinese government's economic development policies, has issued solar project developer Sky Solar Holdings a loan for 10 billion RMB (US$1.6 billion). The agreement, which runs until 2016, is being seen as a way for China to solve its problem of PV solar panel overcapacity while simultaneously ushering downstream development of its solar interests.

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