JinkoSolar Holding Co., Ltd. announced that it has entered into project loan agreements with China Development Bank (CDB). Pursuant to the agreements, the Zhejiang Branch of CDB will provide a RMB 400 million (approximately USD 66 million) loan to the company 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 RMB 3 billion (approximately USD 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 RMB 400 million which 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 RMB 1.00 per kW/h. The company will continue to work closely with CDB for financing more solar PV projects.