JKS Closes Investment from CDBI, Macquarie and New Horizon
November 19, 2014
JinkoSolar (NYSE: JKS) has closed a $225 million private equity investment led by China Development Bank International and Macquarie Funds Group; New Horizon Capital also invested in the transaction. Founded in 2006, JKS is a manufacturer of photovoltaic solar cells and panels, distributing to locations such as the U.S., Germany, Italy and South Africa. The investment will be used by JinkoSolar Power Engineering Group, a subsidiary of JKS that develops and operates its downstream business. The transaction will give the trio of investors an approximate 45% equity interest in Jinko Power, which intends to spin off and list.