JinkoSolar to Supply Utility Scale Storage to Athens Airport

Rhea-AI Summary

On June 21, 2024, JinkoSolar announced a partnership with Kiefer to supply its large-scale battery storage system, SunTera, to Athens International Airport (AIA). This initiative will help AIA achieve Net Zero Carbon Emissions by 2025, making it the first airport worldwide to operate entirely on self-consumption. Frank Niendorf, General Manager Europe at JinkoSolar, expressed excitement over this pioneering project in Greece, aligning with both companies' commitment to sustainability. Christos Petrocheilos, General Manager at Kiefer, noted that the collaboration will significantly benefit their customers.

Positive

• JinkoSolar's partnership with Kiefer to supply SunTera aligns with AIA's goal of achieving Net Zero Carbon Emissions by 2025.
• AIA to become the first airport globally with 100% self-consumption, enhancing JinkoSolar's brand reputation.
• The project marks the first utility-scale storage system installation with a photovoltaic system in Greece.

Negative

• Potential risks associated with the implementation and operational efficiency of the new large-scale battery storage system.

Insights

Renewable Energy Analyst

JinkoSolar's partnership with kIEFER to supply large scale battery storage to Athens International Airport represents a significant evolution in the renewable energy sector. This initiative aligns with the global trend of airports adopting sustainable energy solutions to reduce carbon footprints. The decision to use SunTera for 100% self-consumption is particularly noteworthy because it sets a new standard for other international airports aiming for sustainability.

The implementation of this large-scale self-consumption system allows Athens International Airport to become a leader in renewable energy within the aviation industry. This move will likely encourage further investments in similar projects at other airports, potentially sparking a broader shift towards sustainable energy usage in the sector.

For JinkoSolar, this project enhances their reputation as an innovator in solar energy solutions. It showcases their ability to handle large-scale projects and demonstrates their commitment to sustainability. This could attract more business and partnerships in the future, bolstering their market position.

From a financial perspective, this project could translate into increased revenue streams for JinkoSolar, reflecting positively on their financial performance. However, retail investors should watch for the actual execution and completion of this project to gauge its real impact on the company's financials.

Market Research Analyst

The installation of the largest self-consumption system in an airport facility worldwide signifies a major milestone. This move reflects a broader market trend of increased adoption of renewable energy solutions in various industries, including aviation, which is traditionally seen as a high carbon-emitting sector.

The fact that Athens International Airport will be the first to achieve 100% self-consumption globally could lead to a competitive advantage, enhancing its brand as a forward-thinking and environmentally conscious airport. This might attract more environmentally aware travelers and businesses, potentially boosting airport revenues in the long term.

For investors, it’s essential to consider how this project fits into the broader market dynamics. The increasing emphasis on sustainability could lead to more airports and other large facilities investing in similar projects. This creates a substantial market opportunity for companies like JinkoSolar that offer comprehensive renewable energy solutions.

However, it is also important to monitor how the market reacts to this project in the short term, especially considering the costs associated with implementing such large-scale systems. Balancing initial investments with long-term benefits will be key for stakeholders.

Aviation Industry Expert

This move by Athens International Airport to adopt a 100% self-consumption system is groundbreaking for the aviation industry. Airports are major energy consumers and transitioning to renewable energy sources can significantly reduce their carbon footprint.

Implementing such a system involves complex logistics and significant initial costs, but the long-term benefits in terms of energy savings and environmental impact are considerable. This project could serve as a benchmark for other airports worldwide, pushing the industry towards more sustainable practices.

From an operational perspective, the integration of SunTera storage with photovoltaic systems will require robust management and maintenance protocols to ensure efficiency and reliability. Any disruptions could impact airport operations, so it’s important to assess the reliability and scalability of these technologies.

Overall, this initiative not only supports environmental goals but also positions Athens International Airport as an industry leader in sustainability. This can enhance their global standing and influence other airports to follow suit.

MUNICH, June 21, 2024 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, announced today that it has entered into a Heads of Terms with kIEFER to supply its large scale battery storage, SunTera to Athens International Airport (AIA), hence supporting its commitment to achieve Net Zero Carbon Emissions by 2025. When completed, AIA will operate the largest self-consumption system in an airport facility worldwide, and will be the first International Airport globally with 100% self-consumption.

Frank Niendorf, General Manager Europe at JinkoSolar, commented: "We are thrilled to partner with kIEFER in this brand-new era of solar energy storage systems in Greece. This emblematic project is the first utility scale storage system to be installed in connection with photovoltaic system awarded in Greece and we are excited to embark on this journey with a partner like kIEFER, whose dedication to green transition through innovation aligns perfectly with our own vision, to take responsibility for enabling a sustainable future by providing a one-stop solution for clean energy."

"We're delighted about this partnership with Jinko," said Christos Petrocheilos, General Manager at Kiefer. "SunTera perfectly aligns with our sustainable energy vision, and we believe this collaboration will greatly benefit our customers."

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 utility-scale, commercial and residential customers 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, 26 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 a global sales network with 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 March 31, 2024.

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-to-supply-utility-scale-storage-to-athens-airport-302178972.html

SOURCE JinkoSolar Holding Co., Ltd.

FAQ

What project did JinkoSolar announce on June 21, 2024?

JinkoSolar announced a partnership with Kiefer to supply its SunTera battery storage system to Athens International Airport, aiming for Net Zero Carbon Emissions by 2025.

What is the significance of JinkoSolar's partnership with Kiefer for Athens International Airport?

The partnership will help AIA become the first airport worldwide to operate entirely on self-consumption, achieving Net Zero Carbon Emissions by 2025.

What is the stock symbol for JinkoSolar?

The stock symbol for JinkoSolar is JKS.

Who commented on behalf of JinkoSolar regarding the new project?

Frank Niendorf, General Manager Europe at JinkoSolar, commented on the partnership and project.

What unique feature will Athens International Airport have after JinkoSolar's project completion?

Athens International Airport will be the first airport globally with a 100% self-consumption system.