JinkoSolar’s US subsidiary recently agreed to and signed a $20 million, two-year credit agreement with Wells Fargo Bank. According to the company’s Chief Financial Officer (CFO), Charlie Cao, the new deal improves and strengthens the company’s financial position not just in the US market, but across the world as well. It demonstrates, according to Cao, the bank’s “confidence in the future of our business.”
The credit facility will reportedly be used to bolster the company’s working capital, as well as to aid regular business operations.
Cao continued: “Our position as a tier 1 solar industry player will provide us with a distinct competitive advantage that will be essential to our success as we rapidly ramp up our global capabilities. We remain focused on maintaining good relations with financial institutions worldwide as we continue to expand our geographic footprint across key growth markets.”
This recent development follows on the heels of others made by the company in recent days. It was only just last month that JinkoSolar made the announcement that it would be supplying 21.5 MW of its solar PV modules to the Searchlight Solar Project being developed in Nevada, and 19 MW of its solar PV modules to the developers of a new solar PV project being developed in Chile’s Atacama Desert region.
For more information on JinkoSolar’s current financial position make sure to check out our recent coverage of the company’s position as of the most recent third quarter report: Q3 Earnings: JinkoSolar Record Shipments & Increased Revenue.
Related:
JinkoSolar Launches New Smart Modules
JinkoSolar To Develop 500 MW Solar Power Capacity In China’s Zhejiang Province
JinkoSolar Providing 100 MW Of Solar PV Modules For Two Projects In Chile
Image Credit: JinkoSolar
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