$55 Million ADB Loan to Develop, Operate Windmills in China

The Asian Development Bank (ADB) has signed a loan of $55 million with Huaneng Tiancheng Financial Leasing to advance the development and operation of distributed wind energy (DWE) power plants in the People’s Republic of China (PRC).

“The partnership with HTFL in scaling up DWE power plants reflects our commitment to promoting sustainable development, while also fostering private sector participation in renewable energy,” said ADB Country Director for the PRC, Safdar Parvez.

“This project will help accelerate the country’s transition to clean energy, reduce greenhouse gas emissions, and support the PRC’s sustainable development goals.”

As the world’s leading energy consumer, the PRC relies on fossil fuels for most of its primary energy consumption. Supporting renewable energy development will be key to meeting the country’s climate goals of peak carbon emissions before 2030 and carbon neutrality by 2060.

DWE plants, strategically located near consumption points, offer a stable and cost-effective energy solution for small-scale operations and rural areas, reducing dependence on long-distance power transmission.

Despite its potential, DWE development has faced policy and market barriers. ADB’s financing aims to bridge this gap, enabling private developers to access long-term funding, facilitate upstream policy dialogue and accelerate the deployment of renewable energy technologies.

Financial leasing companies provide solutions for financing renewable energy equipment and fill a financing gap that traditional banks do not address. HTFL’s partnership with ADB marks a milestone in the company’s mission to promote industrial financial services and drive clean energy development. By expanding its financing for distributed wind energy projects, HTFL is not only supporting the growth of renewable energy but also empowering communities, reducing greenhouse gas emissions, and contributing to the green development of PRC’s financial leasing industry.