JinkoSolar announced that one of its subsidiaries, Zhejiang JinkoSolar Co., Ltd. (Zhejiang JinkoSolar), has entered into a US$90 million working capital loan agreement with China Development Bank (CDB).
According to the terms of the agreements, CDB will provide one-year working capital loan totaling US$90 million which will be used to support the Company's daily operations. The first installment of US$50 million has already been transferred to Zhejiang JinkoSolar.
"We are pleased to extend our relationship with CBD from project finance to corporate finance with this working capital loan agreement," commented Mr. Xiande Li, Chairman of JinkoSolar. "It not only further expands our financing channels, but also serves as a vote of confidence in our future. With the support of CBD's one-stop corporate financial services, we expect to further extend our operation, especially project business. We see continued growth in demand both domestically and overseas in 2015, and we will take full advantage of each opportunity presented to us as we continue to enhance our leading position in the global solar power sector."