JinkoSolar Signs Solar Module Supply Agreement for the Development of Southeast Asia’s Largest Solar Power Project
SHANGHAI: JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE:JKS), a global leader in the solar PV industry, today announced that it has signed a 240MW solar module supply agreement with POWERCHINA Huadong Engineering Corporation Limited (“POWERCHINA HUADONG”) for the second phase of the 420 MW Dau Tieng solar plant in Vietnam, which will become the largest solar power project in Southeast Asia when completed.
The Dau Tieng project is located in Tay Ninh, southwest Vietnam and is being developed by Vietnam’s Xuan Cau Co Ltd and Thailand’s B.Grimm Power Public Co Ltd. POWERCHINA HUADONG is responsible for EPC. The project is a milestone in the accelerating development of new energy markets in Vietnam and even across Southeast Asia.
“We stood out from our competition during the selection process by POWERCHINA HUADONG as a result of our excellent products, high-quality services and strong brand recognition,” commented Mr. Gener Miao, Vice President Global Sales and Marketing of JinkoSolar. “With the reduction of solar costs, the competitiveness of solar energy is increasing, we look forward to working closely again with POWERCHINA to participate in more outstanding solar energy projects globally.”
Mr. Leiming Shi, Vice President of POWERCHINA HUADONG, commented, “A number of projects developed by POWERCHINA HUADONG are located in countries that often experience power shortages along the ‘Belt and Road’ route. These projects have strengthened the partnerships between each country and have helped Chinese companies to go global, allowing them to gain valuable experience in the planning, design, construction and operation of solar plants. Developing a partnership with a global leader like JinkoSolar to push this project forward allows us to use their high quality modules and leverage their mature global sales network. We look forward to deepening our relationship by working on more international power projects in the future and jointly expanding the influence of Chinese companies in the international clean energy market.”
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 9 GW for silicon ingots and wafers, 5 GW for solar cells, and 9 GW for solar modules, as of June 30, 2018.
JinkoSolar has over 12,000 employees across its 8 production facilities globally, 15 overseas subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia and United Arab Emirates, and global sales teams in the United Kingdom, Bulgaria, Greece, Romania, Jordan, Saudi Arabia, Egypt, Morocco, Ghana, Kenya, South Africa, Costa Rica, Colombia, Panama and Argentina.
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.
