JinkoSolar to Provide 35 MW to Clenera for the Arizona Avalon Solar Project
JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, announced that it will supply 35 MW of solar PV modules to Clenera, a leading clean energy finance and management firm, for the construction of the Avalon Solar Project. According to terms of the agreement, groundbreaking is expected to begin during the second quarter of 2014, with an anticipated completion date during the fourth quarter of 2014. Swinerton Renewable Energy will provide engineering, procurement, and construction services for the project.
Located in Pima County, Arizona, this large-scale solar system will be built on 500 acres of land adjacent to the Mission Mine Complex. The site was chosen for its compliance with an Environmental Protection Agency ("EPA") program established with the objective of constructing renewable energy projects on abandoned land, including old mining sites. The project will create up to 300 construction jobs, and will generate nearly $4 million in local property tax revenue. 114,750 pieces of JinkoSolar 305W high efficiency PV modules will be used in the project, which is expected to produce enough energy to power over 7,000 homes, saving approximately 53,000 tons of carbon dioxide (CO2) -- which is comparable to removing 11,000 cars from the road. The power will be sold to Tucson Electric Power Company, helping to achieve the Arizona state mandate of 15% renewable energy generation by 2025.
"Swinerton is excited to continue our successful partnership with JinkoSolar and Clenera -- both innovative leaders in renewable energy -- to bring jobs and years of clean power to Arizona residents," commented George Hershman, Vice President and Division Manager of Swinerton Renewable Energy.
"We are very pleased to work with the Clenera and Swinerton team's again on a second US project and one of the largest solar projects in Arizona," said Mr. Nigel Cockroft, JinkoSolar's US General Manager. "Our commitment to our product's quality and outstanding service has propelled us to collaborate with these industry leaders."
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.
Clenera is a leader in the supply of clean, low-cost solar energy to North American utilities. Starting with development and acquisition of early stage projects, Clenera efficiently builds and manages utility-scale solar facilities. The company is vertically integrated, with necessary environmental, permitting, construction, and operations management capabilities. Clenera relies on a deep pool of cash and tax equity to complete acquisition and construction without institutional financing or debt. The result is fast, flexible, low-cost and high quality execution on every project. For more information on Clenera visit www.clenera.com .
With over 3 GW of power generation and 630 MW of solar power expertise, Swinerton Renewable Energy offers turnkey solar power solutions for utility-scale and distributed-generation projects, including EPC and O&M services, warranty wraps, performance guarantees, and its industry-leading monitoring and SCADA platform, SOLV™. Recognized nationally since 1888, Swinerton is the preferred builder and trusted partner in every market it serves -- proudly leading with integrity, passion, and excellence. For more information on Swinerton, go to the website at www.swinerton.com .
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.