April 3, 2014 - JinkoSolar today announced that it has entered into RMB214.4 million (approximately US$ 39 million) loan agreement with China Development Bank ("CDB") to finance two PV solar projects in Xinjiang and Gansu Provinces.
According to the terms of the agreements, CDB's Xinjiang Branch will provide a 18-year loan totaling RMB141.4 million to finance JinkoSolar's 20MW project located in Alaer, Xinjiang Province while the Gansu Branch will provide a 15-year loan totaling RMB100 million to finance JinkoSolar's 15MW project located in Jinchang, Gansu Province. The two projects were connected to the grid at the end of 2013.
"We are very pleased to see CDB recognize the value of its relationship with JinkoSolar by funding these two projects," commented Mr. Xiande Li, Chairman of JinkoSolar. "These projects are another demonstration of JinkoSolar's success in the development and construction of utility-scale solar power plants as well as our financing capabilities. With the support of CDB and the expertise of our experienced project development teams, we focused on achieving our full year plan of connecting more than 400MW of downstream projects."