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JinkoSolar Australia obtains USD-22.5m credit line

Solar panels in Queensland. Photo by: Sander van Dijk. License: Creative Commons. Attribution 2.0 Generic.

April 1 (Renewables Now) - The Aussie unit of Chinese solar module maker JinkoSolar Holding Co Ltd (NYSE:JKS) has agreed a AUD-37-million (USD 22.5m/EUR 20.5m) credit line with the National Australia Bank (NAB), it announced today.

Jinko Solar Australia Holdings Co Pty Ltd has arranged a one-year facility that includes AUD 12 million of invoice financing and AUD 25 million of bank guarantees. The credit will be reviewed annually, it said.

The firm will use the financing to expand its local business and supplement its working capital.

“We will continue to strengthen our business in Australia to support the enormous growth potential clean energy has in Australia," stated CFO Charlie Cao.

(AUD 1.0 = USD 0.607/EUR 0.554)

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