JinkoSolar Holding Co., Ltd. (NYSE: JKS) has entered into a strategic cooperation agreement with the local government of Lingwu City, China, to develop a 200-megwatt (MW) ground-mounted photovoltaic (PV) power plant.
Under the terms of the agreement, JinkoSolar will build the new renewable energy plant and invest in a number of PV related supporting facilities. The investment related to the project is expected to be approximately RMB 4.6 billion ($US755 million).
The company said work on the project will proceed based on the approval process of the local Development and Reform Commission. Commission approval will allow power generated from the new PV plant to connect to the State Grid.
"We are very pleased to have this opportunity to cooperate with Lingwu City in the development of this significant comprehensive renewable energy project. The selection of JinkoSolar further solidifies our leadership position in the domestic solar PV market, especially on project development side. Our high quality pipeline of projects and stable cash flows from downstream business ensure the good return of our investors," commented Mr. Xiande Li, Chairman of JinkoSolar.