Shanghai /PRNewswire-FirstCall/ - JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that it signed three power purchase agreements ("PPAs") with Mexico's Federal Electricity Commission (Comision Federal de Electricidad or "CFE") for the three projects totaling 188MWac that was awarded in April 2016 under the Mexico's First Long Term Electricity Auction.
According to the terms of the PPAs, JinkoSolar will begin generating solar energy by approximately mid-2018. All the electricity generated will be sold to the CFE under the PPAs for a 15-year period and related Clean Energy Certificates ("CELs") for a 20-year period.
"I'm pleased to have completed these PPAs after having been awarded our first large scale overseas projects in Mexico," commented Mr. Xiande Li, Chairman of JinkoSolar. "Solar is becoming increasingly competitive in an ever expanding number of countries and regions. Mexico is an attractive market for solar power and is showing great potential which we intent to take advantage of. We are proud to have earned the trust of CENACE (National Center of Energy Control), SENER (Mexican Ministry of Energy), and CFE, and look forward to providing clean energy to Mexican customers."
The Mexican Minister of Energy congratulated the 11 companies that were awarded the first 18 clean projects as part of the nation's first tender auction, "I want to give a very special greeting to all the companies that were awarded in this first auction. Mexico is very optimistic about the nation's clean energy. The second auction is planned to be in September and is expected to be as successful as the first one."
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 3.5 GW for silicon ingots and wafers, 3 GW for solar cells, and 6 GW for solar modules, as of March 31, 2016. JinkoSolar also sells electricity in China, and had connected approximately 1,007 MW of solar power projects to the grid, as ofMarch 31, 2016.
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.
To find out more, please see: www.jinkosolar.com
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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