Jinko Power and CHD Announce 44% Equity Transfer of PV Plant With CNY 19.4 Million

PVTIME – On June 15, Jinko Power Technology Co., Ltd. (Jinko Power)(601778.SH) announced that it intends to transfer 44% equity of Luquan Huadian New Energy Development Co. Ltd. (Luquan Huadian) to an indirect holding subsidiary of China Huadian Corporation (CHD).

Luquan Huadian, the target company, was jointly set by Jinko Power, Huandian Yunnan, a subsidiary of CHD, and the People’s Government of Luquan County, to launch the 250MW PV station locally. And Jinko Power holds 44% equity of the target company.

According to its overseas investment plans and the operation situation of the 250MW PV project in Luquan, Jinko Power decided to transfer all the 44% equity of Luquan Huadian to an indirect holding subsidiary of CHD. The total value of the transaction is CNY 19.4 million. After the completion of the transaction, Jinko Power will no longer hold any share in Luquan Huadian.