JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that it has won 3 solar PV projects totaling 188 MWac in Mexico as part of the country's first long-term electricity auction since the implementation of energy reforms. JinkoSolar will develop and build the solar power plants.
Two of the projects are located in Yucatán and one in Jalisco. They are expected to reach commercial operation by mid-2018 where all electricity generated will be sold to Mexico's Federal Electricity Commission (Comisión Federal de Electricidad, or "CFE") under a power purchase agreement for a 15 year period, as well as the related clean energy certificates for a 20 year period. The expected total generation of the three projects is over 500 GWh/year and will reduce CO2 emissions by about 200,000 tons/year.
"I am pleased to have been awarded these large scale projects in Mexico, a milestone in JinkoSolar's expansion into overseas projects and its development as a global leader in the solar industry," commented Mr. Xiande Li, Chairman of JinkoSolar. "I believe this demonstrates our brand name recognition, technological strength and financial capabilities in overseas markets. We are eager to jointly work with CFE and CENACE (Centro Nacional de Control de Energía) to develop renewable energy in Mexico. We look forward to leveraging this win to further increase our growth momentum in Mexico and other emerging solar markets as we continue to seek project development opportunities in other markets."
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 3 GW for silicon ingots and wafers, 2.5 GW for solar cells, and 4.3 GW for solar modules, as of December 31, 2015. JinkoSolar also sells electricity in China, and had connected approximately 1,006.6 MW of solar power projects to the grid, as of December 31, 2015.
JinkoSolar has over 15,000 employees across its 5 productions facilities in Jiangxi and Zhejiang Provinces, China, Malaysia, Portugal and South Africa, 12 global sales offices in China, Spain, the United Kingdom, the United Arab Emirates, Jordan, Saudi Arabia, Egypt, Morocco, Ghana, Brazil, Costa Rica and Mexico and 11 oversea subsidiaries in Germany, Italy, Switzerland, the United States, Canada, Australia, Singapore, Japan, India, South Africa and Chile.