Jinko obtains $66 million project financing loan from China Development Bank

Chinese solar manufacturer JinkoSolar Holding Co. Ltd. has secured a 15-year 400 million CNY ($66 million) project financing loan from the Zhejiang Branch of state-owned China Development Bank (CDB) to finance the construction of three PV power plants located in northwest China. The three plants have a total installed capacity of 50 MW and are located in the Xinjiang Uyghur Autonomous Region and Qinghai Province, respectively. All three plants were connected to the grid in the fourth quarter of 2013 and are qualified for China’s national feed-in tariff of 1 CNY per kWh .
JinkoSolar notes that the company has an authorized domestic credit line up to 3 billion CNY for solar project financing by CDB. The company said it intends to work closely with CDB to secure financing for additional PV projects.

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