JinkoSolar Cooperate with CJIC to Develop Kenya's Largest Solar Power Plant
SHANGHAI, Sept. 27, 2012 /PRNewswire-FirstCall/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a leading global solar power product manufacturer, today announced it has signed an cooperative agreement with China Jiangxi Corporation for International Economic & Technical Co, Ltd. ("CJIC") to provide technical support for CJIC's 50MW solar power project development in Kenya. Under the agreement, JinkoSolar is also appointed by CJIC as the preferred module supplier for this project.
The project is planned to occupy 81 hectare and is expected to be one of the largest grid connected solar power plants in Africa. Located in northwest city of Garissa, Kenya, the plant is expected to produce approximately 76,473 megawatts hours per year, reducing yearly carbone missions by 64,190 tons and saving coal consumption by 24,470 tons annually.
With an arid climate and a vast desert landmass, Garissa is geographically optimal for harnessing solar power. The pre-assembled modular approach is planned by JinkoSolar to facilitate installation and future operation and maintenance. Additionally, pouring pile and spiral pile design will be utilized to protect local vegetation. The introduction of solar energy is expected to generate significant value for Kenya's energy landscape, by ensuring sustainable opportunities for diversified economic growth.
"We are extremely impressed with quality of JinkoSolar's products and expertise in design and engineering." said Mr. Guojian Xu, General Manager of CJIC. "Through cooperation, we hope to build a long-term relationship to harness both our unique advantages and open a new chapter for the construction of PV power plants in Africa."
"We are pleased to be a part of Kenya's push towards clean-tech development and commitment to renewable energy," said Mr. Kangping Chen, Chief Executive Officer of JinkoSolar. "As a market leader in the solar energy business, JinkoSolar will play a key role in supply Kenya's growing demand for solar energy. By cooperating with CJIC, we expect this project will provide JinkoSolar with future opportunities in Kenya's solar power plant industry."
About China Jiangxi Corporation for International Economic and Technical Cooperation
China Jiangxi Corporation for International Economic and Technical Cooperation(CJIC), approved by the State Council of the People's Republic of China and registered in 1983, is a large compound foreign economic enterprise, focusing on international project contracting and labor services cooperation and diversified undertaking the business of domestic real estate, architectural design, overseas investment and trading simultaneously. The corporation had gained contracting qualification in building project and contracting qualification in water conservancy and hydroelectric project, contracting qualification in municipal public works, Meanwhile, the corporation also obtained the top grade contracting qualifications in building project, water conservancy and hydroelectric project and road and bridge project in Botswana, Zimbabwe, Kenya, Ghana and Zambia. Since 2000, the corporation has achieved new breakthroughs in both development scale and business field, maintaining a good trend of accelerative development.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) is a leading solar power product manufacturer with production operations in Jiangxi and Zhejiang Provinces in China and sales and marketing offices in Shanghai, China; Munich, Germany; Bologna, Italy; Montpellier, France; Zug, Switzerland; San Francisco, U.S.; Queensland, Australia; Ontario, Canada and Singapore.
JinkoSolar has built a vertically integrated solar product value chain with an integrated annual capacity of approximately 1.2 GW each for silicon wafers, solar cells and solar modules as of June 30, 2012. JinkoSolar distributes its photovoltaic products to a diversified customer base in the global PV market, including in Germany, Italy, Belgium, Spain, the United States, France, Eastern Europe, China and other countries and regions.
Safe Harbor Statement
This news 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 can be identified by terminology such as "anticipates," "believes," "estimates," "expects," "future," "intends," "plans," "will," and similar statements. Such statements involve inherent 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 public filings with the Securities and Exchange Commission, including its annual report on Form 20-F for the year ended December 31, 2011 filed with the Securities and Exchange Commission on April 18, 2012, as amended on April 19, 2012. All information provided in this news release is as of September 27, 2012. 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.
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