JinkoSolar to build 500MW in China

China’s JinkoSolar has struck a deal with municipal authorities in Lishui City, Zhejiang Province, to develop 500MW of PV at a cost of 5bn yuan ($812m).

The PV group said it will aim to install 100MW a year – 60MW distributed and 40MW ground-mounted – annually for the next five years.

The first phase will begin construction later this year. The Lishui City authorities said they will weigh in to facilitate construction and speed up grid connections.

Xiande Li, chairman of JinkoSolar, said: "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.

“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.”

Jinko's downstream project arm recently secured $225m of investment from a group including Australia's Macquarie, in return for a stake in the unit.