JinkoSolar Holding Co. Ltd. has signed an agreement with the Economic Development Zone of Lishui City, China, to develop a 500 MW photovoltaic power plant.
According to the terms of the agreement, the power plant will be constructed over a period of five years. Each year has an installation target of 100 MW, of which 60 MW will be distributed and 40 MW will be ground-mounted.
The first phase of construction will begin this year, with an installation target of 50 MW to be completed by year-end. When fully completed, the 500 MW power project is expected toÂ generate approximately 56 million kWh of electricity annually.
‘By signing this agreement, we are expanding the scale and scope of our PV project pipeline while improving the environment and contributing to local economic development,’ says Xiande Li, chairman of JinkoSolar. ‘China's National Energy Administration encourages local governments to proactively initiate projects of this nature and engage leading clean energy companies to aid in the process.’