Under the agreements, the company will receive a 15-year loan from CDB’s Zhejiang Branch for the projects totaling 50MW.
Developed by JinkoSolar and connected to the grid in the fourth quarter of 2013, the projects are qualified for China’s national feed-in-tariff of RMB1 per kWh.
As a prioritized corporate client, JinkoSolar has secured an authorized domestic credit line up to RMB3bn ($494m) for solar project financing by CDB. Additionally, the company will continue to work with the bank to finance its potential projects.
JinkoSolar chairman Xiande Li said the company is extending its relationship with CDB for financing its solar projects.
"These loan agreements will secure a long-term, stable source of capital for our projects in Xinjiang and Qinghai.
"The loan facility also demonstrates CDB’s trust and confidence in the Company’s strength and project development capabilities.
"The financing will be used to expand our downstream business as we focus on developing future projects in order to meet the growing demand for green energy and create sustainable returns for our shareholders," added Li.
Image: CDB to finance JinkoSolar’s three PV projects in China. Photo: courtesy of Freedigitalphotos.net.
