JinkoSolar, a global solar module manufacturer, announced that it has entered into project loan agreements with China Development Bank.
Pursuant to the agreements, the Zhejiang Branch of CDB will provide a $66.1 million loan to develop JinkoSolar’s three PV solar projects located in Xinjiang and Qinghai Provinces. As a prioritized corporate client, JinkoSolar has been provided an authorized domestic credit line up to $494 million for solar project financing by CDB.
According to the terms of the agreements, the Zhejiang Branch of CDB will provide a 15-year loan totaling $66.1 million that will be used to finance three PV solar power plant projects in Xinjiang and Qinghai Provinces.
Consisting of a total of 50MW, the projects were developed by JinkoSolar and connected to the grid in the fourth quarter of 2013, and are qualified for China’s national feed-in-tariff of 17 cents per kW/h. The company will continue to work closely with CDB for financing more solar PV projects.
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