JinkoSolar Partners with CleanFund Commercial PACE Capital to Address US Commercial Solar Market
SHANGHAI – March 17, 2017 – JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE:JKS), a global leader in the photovoltaic (PV) industry, today announced that its wholly owned subsidiary, JinkoSolar (U.S.) Inc., will partner with CleanFund Commercial PACE Capital to offer long-term project financing to US commercial project customers through the SolarPACETM program.
SolarPACETM is designed to maximize solar energy cash flow to commercial and industrial (C&I) property owners. CleanFund fully funds the installation of the system, while end users re-pay CleanFund through property taxes over terms as long as 30 years. SolarPACETM solves most credit challenges found in commercial solar project financing. There are solutions for tenants who are leasing their properties, as well as flexible options to utilize solar tax credits. Project developers who use JinkoSolar modules together with SolarPACETM will be eligible for incentives that will lower their project costs.
“SolarPACETM is an excellent fit for the C&I space because it uniquely maximizes cash flow for the end customer, a value proposition we think our customers will find useful for their sales toolkits,” said Nigel Cockroft, General Manager at JinkoSolar (U.S.) Inc. “We always seek to enhance our installers’ competitiveness, and this partnership with CleanFund will be key to that effort.”
“As a provider of long-term financing, we appreciate projects integrated with high quality materials from reliable suppliers,” said Brandon Deno, Vice President of Solar at CleanFund. “JinkoSolar has a proven reputation as a dependable and world-class module manufacturer.”
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 5.0GW for silicon ingots and wafers, 4.0GW for solar cells, and 6.5 GW for solar modules, as of December 31, 2016.
JinkoSolar has over 15,000 employees across its 6 productions facilities in Jiangxi, Zhejiang and Xinjiang Provinces, China, Malaysia, Portugal and South Africa, and 15 overseas subsidiaries across Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia and South Africa. JinkoSolar has 18 global sales offices across China (2), United Kingdom, Bulgaria, Greece, Romania, United Arab Emirates, Jordan, Saudi Arabia, Kuwait, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Brazil and Mexico.
To find out more, please see: www.jinkosolar.com
About CleanFund Commercial PACE Capital
CleanFund Commercial PACE Capital is the leading direct provider of long-term financing of Property Accessed Clean Energy (“PACE”) for energy efficiency, water conservation, renewable energy and seismic improvements to commercial, multifamily and other nonresidential properties in the U.S. CleanFund’s SolarPACE financing product typically delivers the highest Net Present Value (“NPV”) and greatest near-term positive cash flow of any solar financing option. For more information, please visit www.CleanFund.com/jinkosolar
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 21-5183-3056