The Asian Development Bank will provide a $250 million loan to Sinopec Green Energy Geothermal (SGE) and Arctic Green Energy (AGE) to develop geothermal heating in China, the bank announced on Thursday.
SGE is a joint venture between Sinopec and AGE.
The companies will focus on the Beijing-Tianjin-Hebei region but could eventually expand their collaboration across Asia into other countries such as Kazakhstan.
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