Press Release Date: August 15, 2014
JinkoSolar Holding Co Ltd and Wising Century Solartech are set to partner in spending nearly $812 million or 5 billion Yuan on the construction of a solar photovoltaic project in the city of Lishui, located in Zhejiang Province of China.
Jinko Power along with WC Solartech has signed an agreement for the large scale solar energy project with the Lishui Economic Development Zone authority of the province of Zhejiang located in Eastern Chinese. The massive solar energy supply project includes both distributed (DG) as well as ground-mounted farm style installations and will be constructed over a five-year period in the province.
The solar energy generating plant is expected to have targets of 100MW in annual installation, of which some 60MW will be accounted for by distributed generation and 40MW from the ground-mounted farm inhalations. The first phase of construction of the new solar energy project is scheduled to begin in the second half of this tear and will have an installation target of 50MW by year’s end. Upon completion of the project, expected to occur by 2018, the solar power plant will generate approximately 560 million kWh of power per annum allowing for weather conditions.
Chinese PV companies such as WC Solartech and JinkoSolar have attracted a range of large supply orders for power generating projects in countries such as Australia, South Africa and the U.K as favorable renewable policies being implemented by the Chinese government have helped to promote local companies in the world’s PV market place. In 2013, the P.R.C government introduced new tariffs for large-scale solar power projects dependent upon on which region in the country that they are located and in January of this year, increased from 10GW to 14GW the installation target for solar power capacity in the nation for this year.
In a statement released today by SolarTech Energy regarding their project in Lishui, the company announced that, “it was happy to be involved once again with JinkoSolar on such a large project and looks forward to being involved at every stage of the plants operation from initially supplying components to eventually managing the grid supply infrastructure for the plant.”