Global Leader in International Renewable Industry News

posted in:

JinkoSolar - www.youroilandgasnews.com

JinkoSolar plans to separate its solar PV project business

Tuesday, Jan 14, 2014

SHANGHAI, Jan. 13, 2014 /PRNewswire-FirstCall/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that its Board of Directors has authorized the exploration of strategic alternatives with respect to JinkoSolar's downstream solar PV project business. The Board intends to consider a broad range of alternatives including, but not limited to, an IPO, pre-IPO financing or merger and acquisition of the business.

"We believe that the separation will support the sustainable growth of our downstream PV project business, and the Board of Directors and management team are always committed to further enhancing value for all JinkoSolar shareholders," said Mr. Xiande Li, Chairman of JinkoSolar. "Given that our downstream PV project business is expected to exceed 500MW of installed capacity by the end of 2014 and with the clear commitment of the Chinese government to renewable energy, solar energy in particular, and a growing market, we believe now is an appropriate time to prudently explore strategic alternatives for this business."

JinkoSolar management, together with its financial and legal advisers, will explore strategic alternatives, including the exploration of the separation of its solar PV projects business into a separate company through a spin-off or other transactions that will benefit the Company's shareholders.

The Company would like to note that there can be no assurance that the Board of Directors' authorization above will result in any transaction, or that any transaction, if pursued, will be consummated.

About JinkoSolar

JinkoSolar is a global leader in the solar PV industry with production operations in Jiangxi and Zhejiang Provinces in China and sales and marketing offices in Shanghai and Beijing, China; Munich, Germany; Bologna, Italy; Zug, Switzerland; San Francisco, the United States; Queensland, Australia; Ontario, Canada; Singapore; Tokyo, Japan; and Cape Town, South Africa.

JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of approximately 1.5 GW each for silicon ingots, wafers and solar cells and approximately 2.0 GW for solar modules, as of December 31, 2013. JinkoSolar sells electricity in China and distributes its solar products to a diversified customer base in the global PV market, including Germany, Italy, Belgium, Spain, the United States, Eastern Europe, China, India, Japan, South Africa, and other countries and regions. To find out more, please see: www.jinkosolar.com


Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:

Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86-21-6061-1792
Email: ir@jinkosolar.com

Mr. Christian Arnell
Christensen
Tel: +86-10-5900-1548
Email: carnell@christensenir.com

In the U.S.:

Jeff Bloker
Christensen
Tel: +1-480-614-3003
Email: jbloker@christensenir.com


SOURCE JinkoSolar Holding Co., Ltd.

posted in:

Other Renewable News

Trina Solar announces grid connection for 23.8 MW PV projects in UK 18-04-2014
Hannon Armstrong ("HASI") and Sol Systems collaborate to deploy up to $100 million of debt financing for distributed solar project developers in 2014 18-04-2014
EasySolar announces the all-in-one solar power solution 17-04-2014
Three International wind power exhibitions to take place in Shanghai in July 2014 17-04-2014
Bharat Light & Power selects OSIsoft PI System to support renewable energy growth in India 17-04-2014
JinkoSolar successfully connects two solar PV projects totaling 39MW to the grid in Jiangsu Province 17-04-2014
Yingli Green Energy signs cooperation agreement with Sailing Capital to jointly form a one billion RMB renewable energy fund 17-04-2014
IBERDROLA INGENIERÍA in Russia to construct the 1,020 MW substation for the Votkinskaya hydropower station 17-04-2014
Silver Fox® labels exhibit excellent results in latest long-term UV tests 16-04-2014
Introducing Trinity, a portable wind turbine power station for charging USB devices 16-04-2014