JinkoSolar gets $39m CDB loans

JinkoSolar has secured a $39m loan deal with the China Development Bank (CDB) to finance two Chinese PV projects.

The CDB finance is for two operational PV plants – a 20MW project in Alaer, Xinjiang Province, and a 15MW array in Jinchang, Gansu Province.

Both were connected to the grid at the end of 2013.

CDB is an important backer for China’s PV giants, after being told by the Beijing government to focus on support for those deemed the best of the bunch in the country’s huge solar sector.

Xiande Li, chairman of JinkoSolar, said: "These projects are another demonstration of JinkoSolar's success in the development and construction of utility-scale solar power plants as well as our financing capabilities.

“With the support of CDB and the expertise of our experienced project development teams, we focused on achieving our full year plan of connecting more than 400MW of downstream projects."