Solarfun obtains RMB6 billion credit facility with Bank of Shanghai
China-based Solarfun Power Holdings Co., Ltd. has announced that Jiangsu Linyang Solarfun Co., Ltd., a wholly owned subsidiary of Solarfun, has obtained a credit facility in the amount not exceeding RMB6 billion (around USD$885 million, 691 million), or an equivalent amount of foreign currency, from Bank of Shanghai, Nanjing branch. The contract has a term of five years.
Gareth Kung, chief financial officer of Solarfun, commented: "We are pleased to expand our partnership with Bank of Shanghai and view this new credit facility as an important component of our long term financial plan. It provides us with the capital resources and flexibility to continue to grow our business aggressively in the future, including capacity expansions, investments in technology, branding and project financing."
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