JinkoSolar Signs Distribution Agreement with Leading Solar Distributor in India
JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, announced that it has signed a distribution agreement with PROINSO India.
According to the terms of the agreement, PROINSO will begin distributing JinkoSolar solar PV modules through its extensive sales network in India. PROINSO will make use of its Mumbai office, experienced professionals who staff it, and 125 qualified installers who form part of its network in India.
Kunal Chandra, Head of PROINSO India, highlighted the importance of this new agreement by commenting, "Over the past three years, we have supplied more than 100 MW of PV modules and have provided installation services for over 150 projects across India. We are extremely careful in choosing our partners and chose to build a relationship with JinkoSolar given their excellent reputation and strength across the entire solar spectrum. India has significant fundamental growth drivers in its solar market and we are intent on playing a major role in its development by laying a stronger foundation. We are confident that we have chosen the right partner in JinkoSolar, a company that shares the same long-term vision. JinkoSolar's technology, financials and commercial strategy makes it the leading choice for Tier 1 module manufacturers."
"PROINSO's unique business model is driving real growth in the Indian distribution market and we're pleased to partner with them," commented Mr. Xiande Li, Chairman of JinkoSolar. "PROINSO has a solid reputation for providing customers with high-quality, high-efficiency products, making them a perfect match with our corporate culture. This agreement further strengthens our industry leading customer base and reflects our strong position in the Indian market."
About JinkoSolar Holdings Co., Ltd.
JinkoSolar is a global leader in the solar PV industry with production operations in Jiangxi and Zhejiang Provinces in China and sales and marketing offices in Shanghai and Beijing, China; Munich, Germany; Bologna, Italy; Zug, Switzerland; San Francisco, the United States; Queensland, Australia; Ontario, Canada; Singapore; Tokyo, Japan; and Cape Town, South Africa.
JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of approximately 2.0 GW each for silicon ingots, wafers and solar cells and approximately 2.1 GW for solar modules, as of March 31, 2014. JinkoSolar sells electricity in China and distributes its solar products to a diversified customer base in the global PV market, including Germany, Italy, Belgium, Spain, the United States, Eastern Europe, China, India, Japan, South Africa, and other countries and regions.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "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 "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain 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 filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.