JinkoSolar Holding Co., Ltd. (NYSE:JKS) announced that its JinkoSolar Power Co. Ltd. subsidiary agreed to develop a 500 megawatt (MW) solar photovoltaic (PV) power plant in Zhejiang Province, China.
According to news release, JinkoSolar Holding Co., Ltd. (NYSE:JKS) unit recently signed a PV project development agreement with the Economic Development Zone of Lishui City. The company will build the solar project with an aggregate investment amount of RMB5 billion.
Under the agreement, JinkoSolar Holding Co., Ltd. (NYSE:JKS) will construct the 500-MW plant over period of 5 years with an annual installation target of 100 MW, of which 60 MW will be distributed and 40 MW will be ground-mounted.
The company said that the first phase of construction will begin during the second half of 2014, with an installation target of 50 MW to be completed before the end of the year.
When completed, the 500-MW power plant will generate about 560 million kilowatt (kWh) of power annually reduce emissions equivalent to saving 0.2 million tons of coal per year, or 7200 tons of nitrogen oxide and 0.5 million tons of carbon dioxide, according to JinkoSolar Holding Co., Ltd. (NYSE:JKS).
Image Credit: JinkoSolar Holding
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