JinkoSolar has secured 400m yuan ($66m) in project loans from the China Development Bank (CDB) for 50MW of PV capacity it recently commissioned in China’s Xinjiang and Qinghai provinces.
spread across a trio of projects brought on line last month, all qualify for
the national feed-in tariff of 1 yuan per kWh.
The loans –
handed down by the CDB’s Zheijiang branch – are a continuation of Jinko’s “deep
relationship” with the CDB, with Jinko referring to itself as a “prioritised
corporate client” of the state-run financial institution.
Jinko – the
first major Chinese PV manufacturer to return to profitability in 2013 – was
among the 109 Chinese solar companies marked for ongoing policy support in a
recent list published by Beijing.
past few years Jinko has steadily built its downstream muscle – mostly inside
China – having commissioned 213MW by the end of last year, and with ambitions
to roughly double that figure in 2014.
chairman Xiande Li says the new CDB loan secures “a long-term, stable source of
capital” for the company’s projects in Xinjiang and Qinghai.
to the CDB loans it has agreed in China, Jinko’s Switzerland-based subsidiary
in 2012 signed a five-year loan package with the CDB worth $1bn for overseas