JinkoSolar Holding Co. Ltd. says its board of directors is considering options for separating out the company's downstream solar photovoltaic project development business. The company says it intends to consider a range of alternatives including, but not limited to, an initial public offering (IPO), a pre-IPO financing deal, or finding a merger and acquisition opportunity for the business.
The company notes that the board of directors' authorization for such a separation does not imply that such a transaction will be realized.
‘We believe that the separation will support the sustainable growth of our downstream PV project business,’ says Xiande Li, chairman of JinkoSolar. ‘Given that our downstream PV project business is expected to exceed 500 MW of installed capacity by the end of 2014 and with the clear commitment of the Chinese government to renewable energy – solar energy in particular – and a growing market, we believe now is an appropriate time to prudently explore strategic alternatives for this business.’