SHANGHAI, Dec. 27, 2013 /PRNewswire-FirstCall/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE:JKS), a global leader in the solar PV industry, today announced that four of its solar PV projects totaling 80MW in Xinjiang Uygur Autonomous Region have been successfully connected to the national grid. As of the end of the fourth quarter of 2013, the Company has connected approximately 213MW worth of solar PV projects to the grid.
With the connection of these four solar PV projects located in Alar, Shaya, Bohu and Wusuin Xinjiang Uygur Autonomous Region (each accounting for 20MW with a total of 80MW) to the grid, JinkoSolar has successfully completed its project connection plan for the year 2013, reaching approximately 213MW worth of solar PV projects connected to the grid. With an annual power generation capacity approaching 324 million kWh, all 213MW projects are qualified for China's national feed-in-tariffs over 20 years at the rate of RMB1.00 per kW/h (with 10MW qualifying for RMB1.15 per kW/h). Overall, these projects are expected to reduce CO2 emissions by 256,000 tons annually, saving about 110,000 tons of standard coal per year.
"I am proud to report that we have reached our 2013 project connection target," said Mr. Xiande Li, Chairman of JinkoSolar. "We will continue to expand our downstream business and aim to reach an aggregate amount of more than 500MW worth of projects by the end of 2014, representing an annual power generation capacity of 750 million kWh. With the clear commitment of the Chinese government to renewable energy, solar energy in particular, and a gradually maturing market, we are eager to generate more green energy as well as good returns for our investors."
JinkoSolar is a global leader in the solar PV 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, Japan; and Cape Town, South Africa.
JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of approximately 1.5 GW each for silicon ingots, wafers, and solar PV cells, and approximately 1.8 GW for solar PV modules, as of September 30, 2013. 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.
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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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