Downstream Solar PV Project Business ( Solar Thermal Magazine)
JinkoSolar Holding Co., Ltd, a solar PV company, today announced that it closed the private equity investment led by China Development Bank International and the Macquarie Greater China Infrastructure Fund, a fund managed by Macquarie Infrastructure and Real Assets, of an aggregate amount of US$225 million in the Company’s downstream solar power project business.
JinkoSolar Power Engineering Group Limited, a subsidiary of JinkoSolar that develops and operates its downstream solar PV project business, entered into definitive share purchase agreements with each of CDBI, MGCIF and New Horizon Capital. Under the share purchase agreements, CDBI, MGCIF and New Horizon have agreed to invest an aggregate amount of US$225 million in Jinko Power. As of this date, all rounds of investments by the three investors have closed, and the Company has also completed additional capital contribution to Jinko Power.
The three investors hold a total of approximately 45% of Jinko Power’s equity interest. They will provide support and additional resources to facilitate the spin off and listing of Jinko Power and the downstream business development in terms of project financing, project development, project operation and global green energy network.