JinkoSolar to Supply approximately 522 MW of Modules for Phase l of the Santa Luzia Utility PV Project Complex in Brazil

Rhea-AI Summary

JinkoSolar (NYSE: JKS) announced it will supply approximately 522 MW of Tiger Neo 78 Cell modules for Phase 1 of the Santa Luzia Complex Project in Paraíba, Brazil. This project, which will eventually generate 1.2 GW of power, has an estimated investment of BRL 4.1 billion and will create 750 direct jobs. The shipment of modules for Phase 1 began in November 2022 and is expected to complete by May 2023, with commercial operations starting in January 2024. The partnership with Rio Alto Energies Renováveis enhances project reliability and reflects Brazil's commitment to renewable energy.

Positive

• JinkoSolar is supplying 522 MW of high-performance modules, enhancing its market presence.
• The Santa Luzia project has a significant total investment of BRL 4.1 billion, indicating strong financial backing.
• The project is expected to create 750 direct jobs, supporting local employment.

Negative

• The project's completion timeline indicates potential delays, with the last commercial operation date set for January 2024.

SAO PAULO, Nov. 24, 2022 /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 that its principal operating subsidiary, Jinko Solar Co., Ltd. ("Jiangxi Jinko") will supply approximately 522 MW of Tiger Neo 78 Cell modules for Phase l of the Santa Luzia Complex Project (the "Project") in Paraíba State, Brazil.

The Project consists of three Phases with Phase l currently under construction. When fully completed, the total power generated by the Project will be 1.2 GW.

"We are proud to partner with JinkoSolar, a company committed to a sustainable energy future for everyone. Having such a renowned and recognized partner in the market adds value to our Project and increases its reliability", said Joao Batista Meirelles, purchasing and implementation director at Rio Alto Energies Renováveis.

The Project is located in an area of more than 1,700 hectares in the cities of Santa Luzia and São Mamede. Total investment is around BRL 4.1 billion and the Project is estimated to create 750 direct jobs. The first batches of the modules were shipped in November 2022 and the shipment of Phase l is estimated to be completed in May 2023. The COD of the last UFV of phase l is expected to be January 2024.

"We are very proud that the Rio Alto group has chosen our high-performance modules for this important project in Brazil." said Alberto Cuter, General Manager of JinkoSolar for Italy and Latin America. "Brazil is one of the most important countries, strongly committed to the development of renewable energy sources and the Rio Alto Group is one of the main players in this phase of energy transition".

About Rio Alto.

Founded in 2009, Rio Alto is an independent company specializing in renewable energy generation with a focus on photovoltaic solar plants. Their business model is developed through vertical integration of all stages of the project, from conception, project development, implementation, construction and installation, operation and commercialization. They have a 100% integrated platform, multidisciplinary team and vast experience in the energy sector. They develop solar plants with high quality standards, through long-term partnerships with the main companies in the sector. They have a strong ESG policy, focused on the generation of renewable energy projects, they respect the environment, engaging the local community, creating jobs and acting in socio-economic development. Their portfolio totals more than 1.8 GW of solar, including operational and under development assets.

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 has 14 productions facilities globally, 21 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, Brazil, Chile, Australia, Canada, Malaysia, UAE, and Denmark, and global sales teams in China, the United States, Canada, Germany, Switzerland, Italy, Japan, Australia, Korea, India, Turkey, Chile, Brazil, Mexico and Hong Kong, as of September 30, 2022.

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

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SOURCE JinkoSolar Holding Co., Ltd.

FAQ

What is JinkoSolar supplying for the Santa Luzia Project?

JinkoSolar is supplying approximately 522 MW of Tiger Neo 78 Cell modules.

What is the total power generation capacity of the Santa Luzia Project?

The total power generation capacity will be 1.2 GW.

When are the modules for Phase 1 of the Santa Luzia Project expected to be completed?

The shipment for Phase 1 is expected to be completed by May 2023.

How many jobs will the Santa Luzia Project create?

The project is estimated to create 750 direct jobs.

What is the total investment for the Santa Luzia Project?

The total investment for the project is around BRL 4.1 billion.