JinkoSolar to Supply 21.5MW of PV Solar Modules for Searchlight Solar Project in the US
SHANGHAI, October. 13, 2014 -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the PV industry, today announced that it will supply 21.5MW PV solar modules for the construction of the Searchlight solar project located near Searchlight, NV, approximately 50 miles south of Las Vegas.
The project was acquired by an affiliate of D. E. Shaw Renewable Investments, L.L.C (DESRI) and Bright Plain Renewable Energy (BPRE), two investors active in the solar industry, from American Capital Energy, Inc., the initial developer of the project. Signal Energy will act as the EPC for the project and will provide operation and maintenance services once the project is completed.
70,525 high-efficiency JinkoSolar modules will be used in the construction of this project, which will generate approximately 45,000MWh of clean energy annually for NV Energy customers once it is connected to the grid by the end of 2014.
“We are very excited to have the opportunity to work with such reputable companies as DESRI, BPRE and Signal Energy on this sizeable project”, said Mr. Nigel Cockroft, General Manager of JinkoSolar (U.S.) Inc. “Being a global leader in the industry, we are proud to be in a position where we can continually provide excellent products, while promoting a brighter, more sustainable future for the U.S and the world.”
“The Searchlight project is an important milestone in achieving Nevada’s renewable energy goals,” said Mr. Bryan Martin, managing director and head of U.S. growth and buyout private equity at the D. E. Shaw group. “We are pleased to be partnering with JinkoSolar, BPRE, and Signal Energy in helping transform the state’s natural solar resources into a clean and reliable source of energy.”
“Signal Energy Constructors is proud to provide its utility-scale solar EPC expertise to the Searchlight Solar Project,” said Mr. Ben Fischer, CEO of Signal Energy Constructors. “There are great opportunities in the solar industry over the next few decades and projects like this help build a clean energy future for America.”
About JinkoSolar Holdings Co., Ltd.
JinkoSolar is a global leader in the solar industry with production operations in Jiangxi and Zhejiang Provinces in China and sales and marketing offices in Shanghai and Beijing, China; Munich, Germany; Bologna, Italy; Zug, Switzerland; San Francisco, the United States; Queensland, Australia; Ontario, Canada; Singapore; Tokyo and Osaka; Japan and Cape town, South Africa.
JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 2.3 GW for silicon ingots and wafers, 1.8 GW for solar cells, and 2.8 GW for solar modules, as of September 30, 2014. JinkoSolar sells electricity in China and distributes its solar products to a diversified customer base in the global PV market, including Germany, Italy, Belgium, Spain, the United States, Eastern Europe, China, India, Japan, South Africa, and other countries and regions.
To find out more, please see: www.jinkosolar.com
About Bright Plain Renewable Energy
BPRE was founded in 2011 by industry veterans David Buzby and William Lee as an operating platform to acquire and manage solar projects across North America. By building lasting relationships with project developers and providing efficient and knowledgeable capital, BPRE is enabling the growth of the solar industry. Likewise, BPRE's strategic investors benefit from direct investment in long term assets and stable cash flows.
About D. E. Shaw Renewable Investments
D. E. Shaw Renewable Investments, L.L.C. (DESRI) and its affiliates acquire long-term contracted renewable energy assets in North America. DESRI is a member of the D. E. Shaw group, a global investment and technology development firm with more than 1,000 employees, approximately $33 billion in investment capital as of July 1, 2014, and offices in North America, Europe, and Asia.
Please visit www.deshaw.com for more information about the D. E. Shaw group.
About American Capital Energy, Inc.
American Capital Energy develops, finances, builds, and operates commercial and utility-scale solar PV projects. ACE has developed and/or built over 100 MW of solar PV projects across the US. We succeed by listening to our partners and clients, offering flexible, innovative solutions tailored to their needs, and driving the project to successful completion with well-honed risk management and operational discipline. Please visit www.AmericanCapitalEnergy.com for more information about American Capital Energy.
About Signal Energy
Signal Energy is a leading full service design/build general contractor providing engineering, procurement and construction (EPC) services for utility-scale renewable energy projects across North America with more than 8,000 megawatts of renewable energy, utility scale project experience. Signal Energy is the renewable energy subsidiary of EMJ Corporation. For more information visit: www.signalenergy.com
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "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 can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.