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."
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