Jinko Power Signs 200 MW PV Project Development Agreement with Government of Shicheng County
Jinko Power Signs 200 MW PV Project Development Agreement with Government of Shicheng County in Jiangxi Province
SHANGHAI, Oct. 16, 2014 /PRNewswire-FirstCall/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that JinkoSolar Power Co., Ltd. ("Jinko Power"), a subsidiary of the Company has signed a PV project development agreement with the government of Shicheng County, Ganzhou City, Jiangxi Province to develop 200MW PV power plant. The project will require an aggregate investment amount of approximately RMB1.6 billion.
The project will be built in Zhuokeng and Fengshan villages, Shicheng County, Ganzhou City, Jiangxi Province. The PV power plant will be constructed in four phases over a period of 4 years. The first phase of construction will begin during the first half of 2015. The project is expected to receive the national subsidy of RMB1/kWh as well as provincial level subsidy of RMB0.2/kWh for 20 years. The PV power plant is expected to generate approximately 240 million kWh of electricity annually and RMB288 million of revenue annually while improving the local environment and contributing to economic development.
"We are pleased to sign this significant PV project development agreement with the government of Shicheng County as we further expand our pipeline in Jiangxi Province," commented Mr. Xiande Li, Chairman of JinkoSolar. "We believe this project will be a great success as we leverage the local government's support and willingness to build clean energy infrastructure and our high quality PV products and industry leading capabilities in PV power plant development. This project will enable us to expand our clean energy generation capacities and grow shareholders' value."
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
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.
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