JinkoSolar signs 3.8 GW Supply Agreement with ACWA Power for High-Efficient N-type Modules

Rhea-AI Summary

JinkoSolar signs largest ever supply agreement with ACWA Power for 3.8 GW of solar modules in Saudi Arabia.

Positive

• JinkoSolar's affiliate signs a supply agreement with ACWA Power for 3.8 GW N-type Tiger Neo modules for two projects in Saudi Arabia.
• The agreement validates the performance, durability, and reliability advantage of JinkoSolar's Tiger Neo modules.
• The modules deliver industry-leading efficiency, reduced degradation and temperature coefficient, enhanced bifacial factor, and unparalleled yield per watt.
• The supply agreement demonstrates the confidence that utility-scale customers have in JinkoSolar's ability to deliver on its commitments.

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• None.

SHANGRAO, China, Oct. 25, 2023 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced its affiliate has signed the largest ever supply agreement with ACWA Power, to provide 3.8 GW N-type Tiger Neo modules for ACWA Power's two projects, the 1,581MWp Al KAHFAH and the 2,257MWp AR RASS 2, in Saudi Arabia.

Produced using N-type TOPCon technology and sophisticated manufacturing processes, the Tiger Neo solar modules deliver industry-leading efficiency along with reduced degradation and temperature coefficient, enhanced bifacial factor, and unparalleled yield per watt to reduce system lifetime energy cost.

This important supply agreement validates the Tiger Neo's performance, durability, and reliability advantage over conventional solar panels, as well as its competitiveness. Moreover, it demonstrates the confidence that utility-scale customers have in JinkoSolar's ability to deliver on its commitments.

"N-type TOPCon technology will help ensure our solar projects meet performance goals to provide clean and competitively priced energy for desalination and hydrogen production as well as to our customers across the Middle East," said Yunhe Lv, Executive VP of ACWA Power China. "We look forward to a much broader, higher level and strategic alliance with JinkoSolar in solar generation, energy storage and other renewable fields."

"ACWA Power continues to be the world's largest private water desalination company, and also a pioneer in green energy transition," said Robin Li, General Manager of JinkoSolar Middle East and North Africa ("MENA"). "We are excited to be expanding our MENA footprint and engaging in a more diversified and innovative cooperation with ACWA Power."

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions.

JinkoSolar had 14 productions facilities globally, 24 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, Brazil, Chile, Australia, Canada, Malaysia, the United Arab Emirates, Denmark, Indonesia, Nigeria and Saudi Arabia, and global sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of June 30, 2023.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: pr@jinkosolar.com

View original content:https://www.prnewswire.com/news-releases/jinkosolar-signs-3-8-gw-supply-agreement-with-acwa-power-for-high-efficient-n-type-modules-301967126.html

SOURCE JinkoSolar Holding Co., Ltd.

FAQ

What is the supply agreement between JinkoSolar and ACWA Power?

JinkoSolar's affiliate has signed the largest ever supply agreement with ACWA Power for 3.8 GW N-type Tiger Neo modules for two projects in Saudi Arabia.

What advantages do JinkoSolar's Tiger Neo modules offer?

The Tiger Neo modules deliver industry-leading efficiency, reduced degradation and temperature coefficient, enhanced bifacial factor, and unparalleled yield per watt.

What does the supply agreement demonstrate?

The supply agreement demonstrates the confidence that utility-scale customers have in JinkoSolar's ability to deliver on its commitments.