JinkoSolar’s subsidiary, JinkoSolar Power, has signed a strategic project development agreement with China Development Bank Leasing Limited (CDBL). The agreement is engaged in constructions of 1000MW of PV projects.
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."
