Credit Suisse AG, along with a number of unidentified financial institutions, has provided the 18 month senior secured loan to the JinkoSolar Holding Co., Ltd subsidiary.
The funds will be used to both expand the Chinese companys domestic project portfolio, and manufacturing capacity to 1.4 GW. No further details were divulged.
Xiande Li, chairman of JinkoSolar, commented, "This financing further strengthens our position in the Chinese solar power market, supplements Jinko Power’s working capital, and significantly expands Jinko Power’s project development capabilities. With the additional funds, we are well positioned to benefit from the strong Chinese government support."