Jinko lands 200MW China project
JinkoSolar has signed a deal with a local government in China’s northwestern Ningxia Autonomous Region that will see it build a 200MW ground-mount array and a number of support facilities.
The strategic co-operation underscores what Jinko chief executive Kangping Chen recently described as the company’s “rapidly expanding” downstream PV business.
The deal in Ningxia will see Jinko investing 4.6bn yuan ($750m) into the utility-scale project and a number of “PV-related supporting facilities” in Lingwu City.
Jinko’s young downstream business has connected about 100MW of PV capacity to date, but its 1.1GW pipeline speaks to the company's ambitions for the unit.
Jinko’s downstream division generated 40m yuan in revenues and a gross margin in excess of 60% during the last quarter, its first “meaningful” contribution to the company’s financial performance.
In October Jinko landed a deal with a local authority in Jiangsu province to install 120MW of commercial rooftop systems.
Jinko was the first major Chinese PV manufacturer to return to profitability earlier this year.