JIC Trust and Kong Sun Holdings Limited signed a letter of intent on strategic cooperation regarding PV investments in China on September 30, 2015. Under the agreement, JIC Trust will establish an RMB 1 billion trust fund to participate in the PV projects located in Gansu, Xinjiang and Shanxi with a stake of up to 49% in the form of direct equity investment, trust financing or equity convertibles.

As an investment holding company engaged in investing and operating photovoltaic power plants, and listed on the Hong Kong Stock Exchange, Kong Sun Holdings Limited expects to expand its total installed capacity to 1.2 GW in 2015, making it a strong candidate for the PVBL 2015 list of Top Ten PV Plant Investors.

As of the end of September 2015, the PV trust scheme of JIC Trust has increased to more than RMB 2 billion, which has been dedicated to promoting the development of the domestic solar PV industry in China. As a natural fit for the trust industry, the new energy business that PV plants represent is in line with the needs of social development. Since 2014, the JIC Trust team has been exploring investment, financing and asset-backed security opportunities in this field by working with industry-leading companies. This partnership with Kong Sun will further bolster the company’s presence in the new energy industry.