JinkoSolar Power Co. Ltd. Signs RMB320 Million Loan Agreement with China Development Bank for Projecs in Hengfeng County, Jiangxi Province
SHANGHAI, March 10, 2015 — JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE:JKS), a global leader in the solar PV industry, today 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domestic credit line of up to RMB4 billion for solar project financing by CDB, of which RMB1.46 billion has been withdrawn on current cumulative projects.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.”
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 2.5 GW for silicon ingots and wafers, 2.0 GW for solar cells, and 3.2 GW for solar modules, as of December 31, 2014. JinkoSolar also sells electricity in China, and has connected approximately 500 MW of solar power projects to the grid, as of December 31, 2014.
JinkoSolar has over 13,000 employees spread across its 11 global branch offices in Germany, Italy, Switzerland, the United States, Canada, Australia, Singapore, Japan, India, South Africa and Chile; 12 global sales offices in China, Spain, the United Kingdom, the United Arab Emirates, Jordan, Saudi Arabia, Egypt, Morocco, Ghana, Brazil, Costa Rica and Mexico; and four productions facilities in Jiangxi and Zhejiang Provinces, China, Portugal and South Africa.
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