JinkoSolar Announces 6 MW Module Supply Agreement with U.S. Solar Value Innovation Leader Lumos Sola
SHANGHAI, March 24, 2011 /PRNewswire via COMTEX/ --
JinkoSolar Holding Co., Ltd. ("JinkoSolar") (NYSE: JKS), a fast-growing, vertically integrated solar product manufacturer with low-cost operations based in China, today announced that it has signed a one-year supply agreement with Lumos Solar, a leading solar design, development and distribution company in the U.S.
According to the terms of the agreement, JinkoSolar will produce 6 megawatts ("MW") of frameless LSX modules as well as traditional Lumos-framed modules under a co-branded label "Lumos powered by Jinko" to be shipped in the second quarter of 2011.
"JinkoSolar's entire manufacturing process, from the production of silicon ingots to the construction of solar modules, is done under one roof to ensure the highest quality standards with minimum cost and waste," explained Scott Franklin, CEO of Lumos. "Given Lumos' solar equipment design approach to provide the highest quality products through competitive pricing, distinguished aesthetics and speedy installation, we're thrilled to be working with such a world-class manufacturer."
"The agreement between Lumos and JinkoSolar gives us a chance to launch this game-changing installation technology into the market," explained Mr. Franklin. "The superior cosmetics and lower installation costs of LSX get us closer to grid parity and the mainstream adoption of solar power."
Arturo Herrero, JinkoSolar's chief marketing officer, further commented, "We are excited to work with Lumos, whose strong commercial and residential presence in Colorado provides us with an excellent opportunity as we expand our business in the U.S., where we see enormous potential. To date, approximately 7% of our 2011 order book will be shipped to the U.S., and we expect that the shipment volume to increase throughout the year."
Mr. Herrero continued, "Lumos' installation capacity has been growing rapidly, with the potential for even stronger growth with the launch of their LSX Module System. The LSX technology can not only be applied in the U.S. but also in Europe where commercial and residential segments often require fully integrated solutions for PV roofing systems. We are excited to join them in introducing this technology to the solar sector and are confident our high-quality solar modules and customer service will contribute to the growth of Lumos and the solar industry as a whole. Given Lumos' strong presence in the U.S. with its proprietary LSX system, we expect to further strengthen our cooperation in the near future."
About JinkoSolar Holding Co., Ltd.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) is a fast-growing vertically integrated solar power product manufacturer with low-cost operations based in Jiangxi Province and Zhejiang Province in China and sales and marketing offices in Shanghai, China, Munich, Germany and San Francisco, U.S. JinkoSolar has built a vertically integrated solar product value chain with integrated annual capacity of 600 MW each for silicon wafers, solar cells and solar modules as of December 31, 2010. JinkoSolar distributes its photovoltaic products to a diversified customer base in the global PV market, including Italy, Germany, Belgium, Spain, the United States, France and other countries and regions. For more information about JinkoSolar, please visit www.jinkosolar.com.
About Lumos Solar
Lumos Solar is a Boulder, Colorado-based solar design, development and distribution business. Established in Boulder, Colorado when a group of solar installers realized there had to be better ways to integrate solar energy into everyday life without waiting around for tomorrow's technologies, Lumos set out to make products that are faster and easier to install, products that were stronger for industrial applications, products with less embodied energy, products with a style that gives solar energy a contemporary appeal and products that provide a futuristic solar solution for today's budgets. As a result, Lumos owns the value innovation position in the solar energy marketplace. Lumos calls its approach Maximum Value Point Tracking. MVPT means that when all factors are considered, including energy production, price, aesthetics and ease of installation, Lumos products are the best value available. Lumos' flagship product for 2010, the LSX Module System is poised to dominate design awards in 2011 and demonstrates perfectly why Lumos is the value innovation leader in the solar marketplace.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks outlined in the JinkoSolar's public filings with the Securities and Exchange Commission. All information provided in this press release is as of March 24, 2011. Except as required by law, JinkoSolar undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
For investor and media inquiries please contact:
JinkoSolar Holding Co., Ltd.
Ogilvy Financial, Beijing
In the U.S.:
Jessica Barist Cohen
Ogilvy Financial, New York
SOURCE JinkoSolar Holding Co., Ltd.
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