JinkoSolar US signs $20 million credit deal with Wells Fargo

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JinkoSolar’s U.S. subsidiary has signed a $20 million, two-year credit agreement with Wells Fargo Bank.

JinkoSolar US will use the credit facility to support its working capital and business operations.

JinkoSolar Chief Financial Officer Charlie Cao said the deal illustrated Wells Fargo’s "confidence in the future of our business." The agreement strengthens the company’s financial position not only in the U.S. but globally as well, Cao added.

"Our position as a tier 1 solar industry player will provide us with a distinct competitive advantage that will be essential to our success as we rapidly ramp up our global capabilities. We remain focused on maintaining good relations with financial institutions worldwide as we continue to expand our geographic footprint across key growth markets."

JinkoSolar has been active across the Americas in recent weeks. Las month the company announced that it was supplying 21.5 MW of PV modules for the Searchlight solar project in the U.S. state of Nevada and 19 MW of modules for a PV project in Chile’s Atacama Desert.