August 13, 2014 - JinkoSolar Holding Co., Ltd. today announced that JinkoSolar Power Co., Ltd. has signed a PV project development agreement with the Economic Development Zone of Lishui City, Zhejiang Province, to develop a 500MW PV power plant with an aggregate investment amount of RMB 5 billion.
According to the terms of the agreement, the 500MW PV power plant will be constructed over period of 5 years with an annual installation target of 100MW, of which 60MW will be distributed and 40MW will be ground-mounted. The first phase of construction will begin during the second half of 2014 with an installation target of 50MW to be completed before the end of the year.
When completed, the 500MW 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 7,200 tons of nitrogen oxide and 0.5 million tons of carbon dioxide.
"We are pleased to sign this significant PV project development agreement with the Economic Development Zone of Lishui City," commented Mr. Xiande Li, Chairman of JinkoSolar. "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. 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."