SHANGHAI, March 18, 2015 /PRNewswire-FirstCall/ — JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that JinkoSolar Power Co., Ltd. ("Jinko Power"), a subsidiary of the Company, has signed a strategic project development agreement with China Development Bank Leasing Limited (CDBL).
According to the terms of the agreement, CDBL will provide financing support for no less than 200 MW worth of projects annually up to an aggregate amount of no less than 1000 MW worth of projects over the next five years. Financing support will include leasing, sale-leaseback and other financial instruments. A green channel mechanism will be set by both parties to closely monitor the development of projects, financing and communicate issues with each other. Financial leasing contracts will be signed for specific projects.
China Development Bank is the controlling shareholder of CDBL, which is one of the most capitalized financial leasing companies in China with the longest history. With its strong capital base and experienced and highly efficient team, CDBL has developed a solid brand and reputation within the industry.
"Financial leasing has the potential to greatly revolutionize PV project financing," commented Mr. Xiande Li, Chairman of JinkoSolar. "By cooperating with CDBL, we are broadening our financing channels. PV financial leasing is still in its early stages in China and is complementary to the traditional financing we get for the construction of our PV power plants. It effectively reduces the financial pressures faced during project development, improves the liquidity of our project assets and ensures investment returns for both parties. By working with CDBL, we aim to promote the healthy development of PV project financing in China."
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 2.5 GW for silicon ingots and wafers, 2.0 GW for solar cells, and 3.2 GW for solar modules, as of December 31, 2014. JinkoSolar also sells electricity in China, and has connected approximately 500 MW of solar power projects to the grid, as of December 31, 2014.
JinkoSolar has over 13,000 employees spread across its 11 global branch offices in Germany, Italy, Switzerland, the United States, Canada, Australia, Singapore, Japan, India, South Africa and Chile; 12 global sales offices in China, Spain, the United Kingdom, the United Arab Emirates, Jordan, Saudi Arabia, Egypt, Morocco, Ghana, Brazil, Costa Rica and Mexico; and four productions facilities in Jiangxi and Zhejiang Provinces, China, Portugal and South Africa.
To find out more, please see: www.jinkosolar.com
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company’s operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
For investor and media inquiries, please contact:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21 6061 1792
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