SHANGHAI, Dec. 12, 2012 /PRNewswire-FirstCall/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a leading global solar power product manufacturer, today announced that it has signed a contract with fix price to supply WBHO-Building Energy (Pty) Ltd. ("WBHO-BE") with 81 MW of photovoltaic (PV) modules for the solar PV park project in Gamagara Local Municipality, Northern Cape Province, South Africa.
The project will be developed, designed, constructed and commissioned by WBHO- BE and is, so far, the largest project in African Continent and one of the first approved under the South African government's Renewable Energy Program.
JinkoSolar will deliver a total of 344,540 PV high quality solar panels for the project, which is expected to generate approximately 146 GWh of power equivalent to supply electricity to 12,000 households and to reduce carbon emissions by about 145,800 tons annually.
The project will be the largest individual PV solar plants in South Africa upon its completion. Shipments starts in Q1 2013 and all PV panels will have been shipped before end of Q4, 2013.
"This 81 MW supply contract marks an important milestone for both JinkoSolar and our partner WBHO-BE in South Africa," said Mr. Xiande Li, Chairman of JinkoSolar. "Thanks to rising energy prices, an abundance of sunshine and the sustainable support from Government to renewable Energies, South Africa's is on track to become one of the fastest growing solar PV markets in the world as well as one of most important emerging markets for JinkoSolar."
"The partnership and trust built between JinkoSolar and Building Energy (BE) during last two years in Europe, the clear commitment from JinkoSolar to our investment in developing the South African PV market and the Bankability obtained from over 40 Banks including South African Banks have been key in the decision from BE to consider Jinko's modules in this project and the success of the financial closure. We look forward to the completion of this project and to making solar power increasingly cost competitive in South Africa," added Mr. Xiande Li.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) is a leading solar power product manufacturer with production operations in Jiangxi and Zhejiang Provinces in China and sales and marketing offices in Shanghai and Beijing China; Munich, Germany; Bologna, Italy; Montpellier, France; Zug, Switzerland; San Francisco, U.S.; Queensland, Australia; Ontario, Canada and Singapore.
JinkoSolar has built a vertically integrated solar product value chain with an integrated annual capacity of approximately 1.2 GW each for silicon ingots and wafers, solar cells and solar modules as of September 30, 2012. JinkoSolar distributes its photovoltaic products to a diversified customer base in the global PV market, including in Germany, Italy, Belgium, Spain, the United States, France, Eastern Europe, South Africa, Japan, China, India and other countries and regions.
Safe Harbor Statement
This news release may contain 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 "anticipates," "believes," "estimates," "expects," "future," "intends," "plans," "will," and similar statements. Such statements involve inherent 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 public filings with the Securities and Exchange Commission, including its annual report on Form 20-F for the year ended December 31, 2011 filed with the Securities and Exchange Commission on April 18, 2012, as amended on April 19, 2012. All information provided in this news release is as of December 12, 2012, 2012. Except as required by law, JinkoSolar undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
SOURCE JinkoSolar Holding Co., Ltd.