JinkoSolar Agrees To 500MW PV Project In Zhejiang Province

JinkoSolar recently announced that its subsidiary, JinkoSolar Power, has signed a PV project development agreement with the Economic Development Zone of Lishui City, Zhejiang Province, to develop a 500 MW PV power plant with an aggregate investment amount of RMB5 billion.

According to the terms of the agreement, the 500 MW PV power plant will be constructed over period of 5 years with an annual installation target of 100 MW, of which 60 MW will be distributed and 40 MW will be ground-mounted. The first phase of construction will begin during the second half of 2014 with an installation target of 50 MW to be completed before the end of the year.

“By signing this agreement, we are expanding the scale and scope of our PV project pipeline while improving the environment and contributing to local economic development,” says Xiande Li, chairman of JinkoSolar. “China’s National Energy Administration encourages local governments to proactively initiate projects of this nature and engage leading clean energy companies to aid in the process. We hope to set an example by cooperating on the construction of this important project.”

Municipal leaders of Lishui City, including Zhong Chen, vice-mayor, attended the signing ceremony and pledged to fully support the project in order to speed up the construction process and connection to the grid. This cooperation agreement demonstrates Lishui City local government’s willingness to upgrade its energy infrastructure and to jointly promote the development of green energy production and consumption with JinkoSolar. When completed, the 500 MW power plant will generate approximately 56 million kWh of power annually reduce emissions equivalent to saving 0.2 million tons of coal per year, or 7200 tons of nitrogen oxide and 0.5 million tons of carbon dioxide.

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