JinkoSolar has said that it is looking at a range of financial alternatives for its PV project business that could entail an IPO.
Management noted that it expected to exceed 500MW of installed capacity by the end of 2014 as China ramped up support for utility-scale and distributed energy markets.
“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 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.”
The company noted that options included an IPO, pre-IPO financing as well as a merger and acquisition of the business. No timelines were given for the potential changes.
JinkoSolar recently reported that it had connected 213MW of PV projects to the Chinese national grid in 2013, achieving its target for the year.