Companies & Finance

ADB to loan $250 mln to geothermal heating project in China

The Asian Development Bank will provide a $250 million loan companies developing geothermal heating in China.
By Staff reporter 23 March 2018 0 30144

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.