A renewable energy subsidiary of Chinese solar giant JinkoSolar has today sealed a lucrative deal to develop 200 MW of solar PV in China’s Jiangxi Province.
Jinko Power has been granted project development rights by the government of Shicheng County, Ganzhou City, to develop a solar PV plant that will require an aggregate investment of around RMB 1.6 billion ($261 million).
Construction will be staged in four phases over four years, with phase one penciled in to begin in the first half of next year. The plants will be located in the villages of Zhuokeng and Fengshan as part of Jiangxi Provinces ongoing pursuit of clean solar energy.
Once complete, Jinko Power hopes to secure the national subsidy of RMB1/kWh, as well as a provincial-level subsidy of RMB0.2/kWh, for a period of 20 years.
"We are pleased to sign this significant PV project development agreement with the government of Shicheng County as we further expand our pipeline in Jiangxi Province," said JinkoSolar chairman Xiande Li. "We believe this project will be a great success as we leverage the local governments support and willingness to build clean energy infrastructure and our high quality PV products and industry-leading capabilities in PV power plant development.
"This project will enable us to expand our clean energy generation capacities and grow shareholders value."
In August it was revealed that Jinko Power had secured an inaugural agreement to build 100 MW of solar PV projects in Jiangxi Province, centred on Hengfeng County. The Province’s southern and eastern location makes year-round productivity greater, avoiding the harsher winters that bedevil more northern, central and western regions.
JinkoSolar’s footprint in its domestic market has grown vastly in 2014, with the company also breaking ground on a 500 MW PV project in Zhejiang and, in September, connecting 100 MW of solar PV in Jiangsu Province a feat that propelled the companys grid-connected PV capacity in the province to 300 MW.