JinkoSolar Holding Co. Ltd. says that JinkoSolar (Switzerland) AG, its Swiss subsidiary, has entered into a strategic cooperation agreement with the Guangdong Branch of China Development Bank (CDB).
CDB will provide financing cooperation to JinkoSolar (Switzerland) AG of an aggregate amount up to $1 billion over a five-year period. The final conditions, terms and amount are subject to the parties' further approval and will be set out in separate agreements, the company notes.
JinkoSolar (Switzerland) AG will act as the platform to further expand the company's presence overseas, the company says. It intends to use the financing to develop its overseas expansion, merger, acquisition and downstream business. Areas of focus will include project development and engineering, procurement and construction duties for PV plants.