Run Ming has acted as the PRC counsel for the Japanese sponsors of Datang Sino-Japan (Chifeng) Renwable Power Co., Ltd. (the “Joint Venture”) on a term loan facility transaction of RMB164 million with Asian Development Bank (“ADB”) for its wind farm in China’s Inner Mongolia autonomous region. The proposed wind farm is expected to provide electricity to the national grid, while reducing carbon dioxide emissions by a projected 140,000 tonnes per year.

ADB and the Industrial and Commercial Bank of China (“ICBC”) provide to the Joint Venture local currency financing under parallel facilities, made up of an RMB164 million (US$24 million) facility from ADB and an RMB170 million facility from ICBC. Such financing provided by ADB and ICBC is supported by limited shareholder guarantees. Such arrangement for the financing provided by ADB and ICBC will provide a model for future collaborations between Chinese investors and foreign investors in renewable energy projects in China.

Run Ming executive partner LIU Yi led the Run Ming team in this matter. He was assisted by associate ZENG Qingjun, based in Run Ming's Beijing office.