SHANGHAI and ZUG, Switzerland, Dec. 7, 2012 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a leading global solar power product manufacturer, today announced that JinkoSolar (Switzerland) AG, its Swiss subsidiary, has entered into a strategic cooperation agreement ("Strategic Cooperation Agreement") with the Guangdong Branch of China Development Bank
SHANGHAI and ZUG, Switzerland, Dec. 7, 2012 /PRNewswire/ -- JinkoSolar
Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE:
JKS), a leading global solar power product manufacturer, today announced that
JinkoSolar (Switzerland) AG, its Swiss subsidiary, has entered into a strategic
cooperation agreement ("Strategic Cooperation Agreement") with the
Guangdong Branch of China Development Bank ("CDB"), pursuant to which
CDB intends to provide financing cooperation to JinkoSolar (Switzerland) AG of
an aggregate amount up to US$ 1 billion over a five-year period. The final
conditions, terms and amount of the financing under the Strategic Cooperation
Agreement is subject to the parties' further approval and will be set out in
separate agreements.
JinkoSolar (Switzerland) AG will act as the platform to further expand the
Company's presence overseas as the Company intends to use the financing to
develop its overseas expansion, merger, acquisition, and downstream business,
including project development and EPC for Photovoltaic ("PV") solar
power plants. Pursuant to the Strategic Cooperation Agreement, the two parties
will establish a high-level joint meeting mechanism to evaluate the progress of
major development projects.
The Strategic Cooperation Agreement was signed in the presence of Mr. Shouguo
Chang, Deputy President of CDB Guangdong Branch, and Mr. Xiande Li, Chairman of
JinkoSolar, in
Zug
,
Switzerland
on
December 7th, local time.
"As China's largest foreign investment and financing bank, China
Development Bank has been implementing national development strategy and
providing strong support to strategic plans and social development of the
nation," stated Mr. Shouguo Chang, Deputy President of CBD Guangdong
Branch. "We are pleased to be able to cooperate with JinkoSolar with this
financing cooperation as it will provide JinkoSolar with the flexibility it
needs to develop and finance overseas PV projects, which we believe will
provide steady returns to investors. The signing of this Strategic Cooperation
Agreement marks the beginning of what we hope will be a fruitful relationship
between JinkoSolar and CDB over the next five years."
"As a leading solar power product manufacturer, we are delighted at the
opportunity to cooperate on a strategic level with CDB," commented Mr.
Xiande Li, Chairman of JinkoSolar. "The agreement with CDB will provide
numerous advantages to us, including a long-term, stable source of capital and
a complete set of financial servicesand it will have a far-reaching impact as
it demonstrates the confidence with which a leading PV enterprise and strong
and respectable financial institution set upon changing the global renewable
energy market. We have the confidence to become a premium client of CDB and we
will surely make good use of this platform to create a steady stream of
high-quality PV projects and excellent return on investment not only in
Europe
, but
in global markets."
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