Proceeds from the financing will be used to expand JinkoPowers project portfolio in China and provides funds to expand capacity to 1.4GW. Credit Suisse acted as sole arranger and led the consortium of investors in the financing.
An unavoidable problem for todays global PV industry in both upstream manufacturing and downstream developing is the difficulty in financing. Banks and institutions always act as indifferent onlookers when it comes to investment in PV plants. Yet, Jinko never failed to get patronized by domestic and international financial institutions, why?
First, Jinkos more than expected performance, improving efficiency, unmatchable #1 profit margin and increasing project pipeline are making a great inspiration for the public. In Q2, 2015, Jinko hit its record in shipment of wafers, cells and modules. Its products efficiency has also taken a leap. The current most advanced production line can reach 280W for 60-cell poly module and the average power of commercialized modules is above 260W. In the pioneer project in Datong, China, Jinko has won 50MW order by guaranteeing 270W power for all modules supplied. Because of the Companys leading technics in poly modules, it will undoubtedly retain its position as an industrial leader over the long run. Jinkos products eclipsed their peers on market in all dimensions including efficiency, reliability and low cost, overwhelming its factories with orders. Considering that the soaring quantity of orders has already eaten deeply into the Companys production capacity in the second half of the year, and a great growth is expected in Japanese market, Jinkos profit margin will continue to stay second to none and project pipeling sufficient and healthy.
Second, Jinkos subsidiary JinkoPower as a rising star is already capable of developing, constructing, maintaining and managing GW-level power plants and has already formed a stable cash flow in its projects on-grid. JinkoPower also has over a thousand experts and talents specialized in development, EPC, O&M, commerce, purchasing, legal, market, financing, sales etc. The Company owns the most advanced remote control center for investors and banks to monitor the production and income status of their plants anywhere and anytime. Its parent company JinkoSolars strength, assets, first-ranking profit margin in the industry and high-efficient management are also important factors worth mentioning. By the end of Q1, 2015, JinkoPower has possessed near 700MW on-grid power plants. According to the Companys plan, another 600-800MW will also be connected in 2015, over 1000MW in total by the end of the year.
