JinkoSolar 100MW China project deal

China's JinkoSolar has signed a 800m yuan ($130m) investment agreement with the local government of Hengfeng County, Jiangxi Province to develop 100MW of PV power plants.

Subsidiary JinkoPower will own the projects, as well as providing EPC and operations and maintenance services, it said.

According to the terms of the agreement, the project will receive subsidies of 1.2 yuan per kWh ($0.195), added JinkoSolar.

Construction has already begun and is expected to be completed in the fourth quarter of this year.

After the completion, the projects will generate approximately 32m yuan revenue per year, said Jinko.

"Our power plant development has traditionally been in northwestern China but is now gradually moving towards China's southern and eastern coasts, resulting in a more balanced geographic mix," said Xiande Li, chairman of JinkoSolar.

The latest win comes barely a week after JinkoSolar's development arm struck a deal with with municipal authorities in Lishui City, Zhejiang Province, to develop 500MW of PV at a cost of 5bn yuan.