JinkoSolar Signs RMB241.4 Million Loan Agreement with China Development Bank for Two PV Solar Projects
SHANGHAI, April 3, 2014 /PRNewswire-FirstCall/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that it has entered into RMB214.4 million (approximately US$ 39 million) loan agreement with China Development Bank ("CDB") to finance two PV solar projects in Xinjiang and Gansu Provinces.
According to the terms of the agreements, CDB's Xinjiang Branch will provide a 18-year loan totaling RMB141.4 million to finance JinkoSolar's 20MW project located in Alaer, Xinjiang Province while the Gansu Branch will provide a 15-year loan totaling RMB100 million to finance JinkoSolar's 15MW project located in Jinchang, Gansu Province. The two projects were connected to the grid at the end of 2013.
"We are very pleased to see CDB recognize the value of its relationship with JinkoSolar by funding these two projects," commented Mr. Xiande Li, Chairman of JinkoSolar. "These projects are another demonstration of JinkoSolar's success in the development and construction of utility-scale solar power plants as well as our financing capabilities. With the support of CDB and the expertise of our experienced project development teams, we focused on achieving our full year plan of connecting more than 400 MW of downstream projects."
About JinkoSolar Holdings Co., Ltd.
JinkoSolar is a global leader in the solar PV industry with production operations in Jiangxi and Zhejiang Provinces in China and sales and marketing offices in Shanghai and Beijing, China; Munich, Germany; Bologna, Italy; Zug, Switzerland; San Francisco, the United States; Queensland, Australia; Ontario, Canada; Singapore; Tokyo, Japan, and Cape Town, South Africa.
JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of approximately 1.5 GW each for silicon ingots, wafers and solar cells and approximately 2.0 GW for solar modules, as of December 31, 2013. JinkoSolar sells electricity in China and distributes its solar products to a diversified customer base in the global PV market, including Germany, Italy, Belgium, Spain, the United States, Eastern Europe, China, India, Japan, South Africa, and other countries and regions.
To find out more, please see: www.jinkosolar.com
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
For investor and media inquiries, please contact:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21 6061 1792
SOURCE JinkoSolar Holding Co., Ltd.