JinkoSolar Gets Loan from China Development Bank

By Marc Castro

Apr 04, 2013 10:25 AM EDT

The leading private venture solar power products manufacturer, JinkoSolar Holding Co Ltd announced the signing of a RMB360 million or US$58 million loan agreement with China Development Bank. The funds would be used to develop domestic private venture solar power plant projects.

According to Xiande Li, Chairman of JinkSolar, "We are very pleased to further extend our relationship with CDB by signing this loan agreement. 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." 

The major production areas of JinkoSolar are in Jiangxi and Zheijang Provinces in China. It also operates offices both in Asia, Europe, Australia and North America. 

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