JinkoSolar secures $39 million loan from China Development Bank

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Chinese PV group JinkoSolar has signed a CNY 241.4 million (US$ 39 million) loan deal with China Development Bank (CDB) to finance two PV solar projects in Xinjiang and Gansu Provinces.

According to the agreement, CDB’s Xinjiang branch will provide an 18-year loan totaling CNY 141.4 million to finance JinkoSolar’s 20 MW project located in Alaer, Xinjiang Province, while the Gansu branch will provide a 15-year loan totaling CNY 100 million to finance the company’s 15 MW project 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," said JinkoSolar Chairman Xiande Li. "These projects are another demonstration of JinkoSolar’ssuccess in the development and construction of utility-scale solar power plants as well as our financing capabilities."

Li added that with CDB’s backing, the company was aiming to achieve its full-year plan of connecting more than 400 MW of downstream projects.