SHANGHAI, Oct. 31, 2018 /PRNewswire-FirstCall/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or "Company"), (NYSE code: JKS) one of the world's largest solar module manufacturers, announced today that it has entered into the Contract for the Supply of PV Modules with Decmil Australia Pty Ltd on September 27, 2018, for supply 255MWp of its high efficient solar panels for the Sunraysia Solar Farm ("Project") developed by Maoneng Group. The Sunraysia Solar Farm is expected to be the largest solar farm to have commenced construction in Australia this year and will also be one of the largest solar farms in the world upon construction completion. The Project will also include a large scale battery storage array.
The Project is being developed by Maoneng Group ("Maoneng"), an Australian-Chinese developer, owner and operator of renewable power generation assets. Maoneng has a development pipeline of 500MW of solar farms within Australia and sells energy and large-scale generation certificates ("LGCs") to Australian businesses and governments through a combination of medium and long-term contracts. Maoneng commissioned a 13MW solar farm under the ACT Government's Reverse Solar Auction scheme in November 2016. Maoneng reached Financial Close for the 255MWp Sunraysia Solar Farm in October 2018.
The Sunraysia project forms a key step of AGL Energy ("AGL")'s plan to replace the aging and increasingly decrepit Liddell coal-fired generator. This Project is underpinned by two world class Power Purchase Agreements (PPAs) under which UNSW Sydney and AGL purchase energy over 15 years. The Project is expected to generate around 400 construction jobs in Balranald, leading to significant local economic growth and creating opportunities among local community as to participate in the renewable energy sector.
JinkoSolar has been chosen to supply all 255MWp panels, including its latest HC Cheetah series products, for the Project attributable to the high efficiency and reliability of its solar panels, its plentiful experiences in global utility-scale projects, and good records of duly delivery.
"JinkoSolar has demonstrated professionalism as a tier one global manufacturer. We look forward to the cooperation with JinkoSolar not only on this Sunraysia Solar Farm over the next 14 months, but also on future pipeline projects in Australia and the greater South East Asia region," said Morris Zhou, Group Executive Director of Maoneng.
"JinkoSolar's panels deliver cost-competitive power with proven long-term reliability, and we are proud to play a significant role in serving AGL's goals for generating clean and renewable solar power," said Gener Miao, Sales & Marketing VP of JinkoSolar.
JinkoSolar (NYSE: JKS) is one of the world's largest and foremost solar module manufacturers. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 9 GW for silicon ingots and wafers, 5 GW for solar cells, and 9 GW for solar modules, as of June 30, 2018.
JinkoSolar has over 12,000 employees across its 6 productions facilities globally, 15 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia and United Arab Emirates, and global sales teams in United Kingdom, Bulgaria, Greece, Romania, Jordan, Saudi Arabia, Egypt, Morocco, Ghana, Kenya, South Africa, Costa Rica, Colombia, Panama and Argentina.
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.