The specific terms of the agreement will be subject to the formal purchase contract signed by both parties.
SHANGHAI, May 13, 2015 -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the PV industry, today announced that it has signed a strategy cooperation agreement for the supply of 1 GW of solar PV modules with China Minsheng New Energy ("CMNE").
According to the terms of the agreement, CMNE will purchase a minimum of 1 GW of solar PV modules with priority given to JinkoSolar in case of same terms and conditions over the two years spanning 2015 and 2016 with the minimum amount allocated for 2015 being no less than 600 MW. The specific terms of the agreement will be subject to the formal purchase contract signed by both parties.
CMNE is the wholly owned new energy-focused subsidiary of China Minsheng Investment Corp., Ltd. ("CMIC"). CMIC plans to invest RMB200 billion in approximately 20 GW of projects through CMNE over the next five years, turning CMNE into a leading investor and operator of renewable energy in China.
"As an investment company approved by China's State Council, CMIC has the advantage of analyzing government policy and deploying capital efficiently," commented Mr. Xiande Li, Chairman of JInkoSolar. "As a global leader in the PV industry, we believe this strategy cooperation agreement marks the beginning of a long-term partnership between two leaders in their respective industries. CMIC has targeted and deployed its capital in key industries that are in line with China's national strategy since its establishment and one of their focus points of investment is the solar industry. We look forward to developing a long-term relationship with CMIC as we jointly committed to promote the development of the solar industry in China."
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 2.5 GW for silicon ingots and wafers, 2.0 GW for solar cells, and 3.2 GW for solar modules, as of December 31, 2014. JinkoSolar also sells electricity in China, and has connected approximately 500 MW of solar power projects to the grid, as of December 31, 2014.
JinkoSolar has over 13,000 employees across its 4 productions facilities in Jiangxi and Zhejiang Provinces, China, 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