JinkoSolar Holding Co., a Chinese solar panel manufacturer, is borrowing $150 million from lenders led by Credit Suisse AG-led to build power plants in China.
The 18 month senior secured loan will help Jinko expand its portfolio of solar farms in China to 1.4 GW, the Shanghai-based company said in a statement.
As part of the deal, the lenders will be granted warrants representing no more than 2 percent of the equity for the companyâ€™s Jinko Power development unit.
China plans to add about 18 gigawatts of solar power capacity this year.
Originally from BloombergÂ