JinkoSolar announced that JinkoSolar Power Co., Ltd.( Jinko Power), a subsidiary of the company, has signed a RMB320 million loan agreement with China Development Bank (CDB). The loan will be used for PV solar power plant projects in Henfeng County, Jiangxi Province, China.
According to the terms of agreement, the Jiangxi Branch of CDB will provide a 15-year loan totaling RMB320 million to finance a 50MW PV solar power plant project developed by Jinko Power in Yangjia Village, Lianhe Township, Hengfeng County, Jiangxi Province. The project was connected to the grid in February of 2015.
"We are pleased to finish the first 50 MW phase of the project investment agreement for a 100 MW PV power plant signed with the local government of Hengfeng County, Jiangxi Province in August, 2014," commented Mr. Xiande Li, Chairman of JinkoSolar. "The development of downstream power plant requires solid financial resources. Jinko Power's downstream business has been developing with the strong support of CDB and other financial institutions. JinkoSolar has been provided domestic credit line of up to RMB4 billion for solar project financing by CDB, of which RMB1.46 billion has been withdrawn on current cumulative projects. We will continue to work closely with CDB in order to meet the growing demand for green energy as we generate strong returns for our investors."