February 16, 2010 (FinancialWire) — China Hydroelectric Corp. (NYSE: CHC) a developer and operator of small hydroelectric power projects in the People’s Republic of China’s aid that it has received a Loan Framework Agreement from the Bank of China’s Fujian Branch under which the bank has approved the company’s wholly owned finance subsidiary, Fujian Huabang Hydroelectricity Investment Co., as a borrower of up to an aggregate of RMB 3 billion (or about $440million).

Under the terms of the agreement, the Bank of China has authorized loans to Fujian Huabang Hydroelectricity Investment Co. of up to RMB three billion for the acquisition of hydroelectric projects.

Each acquisition loan will be subject to individual approval by the Bank of China and to definitive documentation. According to China Hydro, the Framework Agreement represents the Bank of China’s form of internal commitment for the loan facility.

China Hydroelectric currently owns twelve operating hydropower projects in China with total installed capacity of 377 MW.

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