JinkoSolar’s Australian Arm Inks 1-Yr Line of Credit Pact with NAB‎

JinkoSolar Australia, an Australian arm of NYSE-listed JinkoSolar Holding Co. Ltd, has entered into a one-year AUD 37 million line of credit agreement with the National Australia Bank (NAB), one of the four largest financial institutions in Australia.

Letter of Comfort

JinkoSolar is one of the largest and most innovative solar module manufacturers across the globe.

As per the deal, this line of credit will be reviewed annually. It also includes AUD 12 million of invoice financing and AUD 25 million of bank guarantees.

The company said that this financing will be used to expand it’s Australian arm’s business. It will also supplement the working capital of JinkoSolar Australia.

Commenting on the development, Charlie Cao, Chief Financial Officer of JinkoSolar, said that “our brand’s strong reputation for reliability and the long-term sustainable growth we are able to generate has consistently been recognized by leading financial institutions worldwide.”

Cao further added that “as one of the largest banks in Australia, NAB provides strong financial support for us in very exciting times. We will continue to strengthen our business in Australia to support the enormous growth potential clean energy has in Australia.”

JinkoSolar sells its products to a diversified international utility, commercial and residential customer base in countries like China, the United States of America, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions.

Till December last year, the company has an integrated annual capacity of 11.5 GW for mono wafers, 10.6 GW for solar cells, and 16 GW for solar modules.

It has more than 15,000 employees across its seven production facilities globally, fourteen overseas subsidiaries, and global sales teams in various countries.

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Manu Tayal

Manu is an Associate Editor at Saur Energy International where she writes and edits clean & green energy news, featured articles and interview industry veterans with a special focus on solar, wind and financial segments.