JinkoSolar is on the brink of spinning out its Jinko Power unit as a publicly traded yield co following the closure of US$225 million of investment.
The company has confirmed that the private equity investment by China Development Bank International, Macquarie Greater China Infrastructure Fund and New Horizon Capital is now complete. The trio now have a 45% equity interest in Jinko Power.
The investment was announced in July this year. With all rounds now confirmed as closed, Jinko said all three parties would now “provide support and additional resources to facilitate the spin off and listing of Jinko Power”.
JinkoSolar also said it had made its own contribution to its Jinko Power subsidiary.