JinkoSolar Holding Company Ltd. (Shanghai, China) has signed a USD 58 million, 15-year loan agreement with the China Development Bank (CDB, Beijing, China).
JinkoSolar plans to use the proceeds to develop domestic solar photovoltaic (PV) projects. The agreement follows a strategic cooperation agreement for up to USD 1 billion in financing between JinkoSolar and CDB, announced in December 2012.
"We are very pleased to further extend our relationship with CDB by signing this loan agreement," stated JinkoSolar Chair Xiande Le. "Securing long-term and stable source of capital, within this agreement, will reinforce our competitive status and already leadership position in the Chinese market.”
“It demonstrates CDB's trust in the Company's strong balance sheet and solid market reputation. We will utilize the financing to promote the development of our PV solar systems to create more opportunities in the green energy field."
