SHANGHAI, Aug. 31, 2012 /PRNewswire-Asia-FirstCall/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a leading global solar power product manufacturer, will work with EPC partner Solea Renewables to deliver a Limpopo province chrome mine with the first ever off-grid utility scale photovoltaic system in South Africa. The 1 megawatt plant will produce approximately 1.8 GWh of electricity per year and will effectively reduce the mine's daytime diesel dependency for the next 20 to 30 years.
This groundbreaking project is in line with South Africa's national plans to increase power supplies from independent producers. It also dovetails with South Africa's stated objective to increase the percentage of renewable energy among the country's total power mix. The fully integrated turnkey PV system designed, engineered and constructed by Solea Renewables will use 4,170 high efficiency polycrystalline PV panels supplied by JinkoSolar.
"While the global demand for South African coal, platinum, palladium and chromium increases, mines and other industrial consumers face power supply constraints due to capacity challenges at Eskom. The turnkey delivery of our PV plants will not only benefit end-users, but it will in turn help reduce the ever present and increasing energy demand Eskom faces," said Vusi Mhlanzi, Director of Solea Renewables, "We chose JinkoSolar panels for its superior performance and reliability, as seen in utility-scale installations across Asia, Europe, and Americas."
JinkoSolar solar panels have already been utilized in off-grid PV systems to offer mining and other industrial companies with a cost effective grid independent complement to traditional diesel generators. " As the plant is expected to be completed by late October, 2012, the electricity generated by JinkoSolar quality solar panels will definitely reduce the mine's daytime diesel consumption while securing our client's with a natural long-term hedge against all rising costs of power," explains Mhlanzi.
"We have great expectations for South Africa. The region's booming population, strong economic growth and abundant sunlight represent an exciting opportunity for solar and for JinkoSolar." said Kangping Chen, Chief Executive Officer of JinkoSolar, "we look forward to working with Solea Renewables, an experienced EPC partner on this momentous project."
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 August 31, 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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