JinkoSolar has today announced the successful connection to the grid of two PV projects with a combined capacity of 39 MW.
The 24 MW Xinyi solar plant and the 15 MW Lianyungang solar plant are both located in Chinas Jiangsu Province, and represent JinkoSolars continued commitment to expanding its downstream business, taking the companys cumulative installed PV capacity to 252 MW.
Both projects have been granted 20-year subsidies from the government: the plant in Xinyi at a rate of 1.125 RMB per KWh, and the Lianyungang plant a rate of 1.1 RMB per KWh.
"These two projects are just the beginning as we focus on improving our competitive position in project development in China," said JinkoSolar chairman, Xiande Li. "Having been successful in Western China, we are now expanding our downstream business into Chinas eastern provinces. The addition of these two successful projects demonstrates our commitment to expanding eastward as we continue to grow our PV project portfolio in 2014."
Despite growing 62.7% in 2013, JinkoSolar has been eager to diversify its business offering, entering the downstream market at the same time as fellow Chinese Tier 1 companies, Yingli and Trina. Having enjoyed a strong fourth and final quarter in 2013, JinkoSolars CEO, Kangping Chen, revealed that the company is also hoping to establish a new R&D center and a wider geographical reach throughout the PV industry.