JinkoSolar Holding Co., Ltd. a global leader in the photovoltaic industry, today announced that Wide Wealth Group Holding Limited, a 55%-owned indirect subsidiary of the Company, has entered into a Share Purchase Agreement (the "SPA") with Shangrao Kangsheng Technology Co., Ltd. (the "Buyer"), a company incorporated with limited liability under the laws of the People's Republic of China, formed by a buyer consortium led by Mr. Xiande Li, chairman of the board of directors of the Company (the "Board").
Subject to satisfaction or waiver of the SPA's terms and conditions, the Buyer will acquire all of the 55% equity interest indirectly held by JinkoSolar in Jiangxi JinkoSolar Engineering Co., Ltd., a developer and operator of solar power projects in the People's Republic of China, for a total consideration of US$250 million in cash (the "Purchase Price"). Through this transaction, JinkoSolar will spin off all its downstream business of Jinko Power and get US$250 million in cash. The transaction is currently expected to close during the fourth quarter of 2016.
Key data points: The growth forecast = 24.3% annually for the next 7 years. Scroll below to get more insights. This market report covers Trends, opportunities and forecasts in photovoltaic customized component market to 2031 by type (photovoltaic balcony module, photovoltaic street light module, photovoltaic container power generation warehouse, photovoltaic roof, and others), application (industrial, commercial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
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