JinkoSolar gets $39m funding for two PV solar projects in China

Chinese solar panel maker JinkoSolar has secured RMB214.4m (around $39m) loan from China Development Bank (CDB) for two PV solar projects in the country.

As per the agreed terms, the company’s 20MW project in Alaer, Xinjiang province, will receive RMB141.4m loan, which is repayable in 18 years, while the 15MW project in Jinchang, Gansu province, will get a 15-year loan, totaling RMB100m.

The two projects were connected to the grid at 2013-end.

JinkoSolar chairman Xiande Li said that the company is pleased to see CDB recognize the value of its relationship with JinkoSolar by funding these two projects.

"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," added Li.

"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 400 MW of downstream projects."

Being one of the major solar PV companies, JinkoSolar has production operations in Jiangxi and Zhejiang provinces in China, with sales and marketing offices in Shanghai and Beijing, China; Munich, Germany; Bologna, Italy; Zug, Switzerland; San Francisco, US; Queensland, Australia; Ontario, Canada; Singapore; Tokyo, Japan and Cape town, South Africa.

As of 31 December 2013, the company had an integrated annual capacity of around 1.5GW each for silicon ingots, wafers and solar cells, and around 2.0GW for solar modules.

In addition to selling electricity in China, the company distributes its solar products to several countries and regions, including Germany, Italy, Belgium, Spain, US, Eastern Europe, China, India, Japan and South Africa.