PVTIME - JinkoSolar Holding Co., Ltd. (the "Company" or "JinkoSolar") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that it has signed a contract with Shanghai Electric to supply approximately 1 GW of solar modules for Phase V of the Dubai Electricity and Water Authority ("DEWA") Solar Park. The DEWA project is located in Dubai, and is part of the government's sustainable development to support the Dubai Clean Energy Strategy 2050 with the goal of providing 75% of Dubai's total power output from clean energy sources by 2050.
JinkoSolar will supply its high efficiency Swan series modules, which will meet the high requirements of Dubai's scorching temperatures and on the levelized cost of energy ("LCOE"). The innovative, bifacial design and low operating temperature of the modules were chosen to help achieve high power gain, effectively reduce LCOE and improve ROI for the project.
At the same time, in order to further strengthen cooperation in the field of renewable energy, JinkoSolar reached a strategic partnership agreement with Shanghai Electric based on the long-term cooperation between the two parties. JinkoSolar's strong reputation for its mature global distribution network and highly enriched experience managing overseas projects were perfectly matched with the renewable energy transformation goals of Shanghai Electric. Both parties intend to fully cooperate in the development, bidding, investment and construction of overseas solar projects by leveraging their respective strengths and jointly contribute to the development of the global solar market.
Mr. Min Cao, President of Shanghai Electric Power Generation Group, commented, "We are pleased to work with a leading global PV manufacturer such as JinkoSolar. Challenges in raw material procurement and delayed delivery time caused by the global pandemic, are just some of the issues JinkoSolar has helped support Shanghai Electric in the DEWA Phase V project. In the near future, we look forward to explore new opportunities to work together in more overseas regions and promote the sustainable development of renewable energy sources around the world."
Mr. Xiande Li, Chairman of JinkoSolar, commented, "We greatly appreciate Shanghai Electric for their trust and confidence in JinkoSolar. We have always been committed to excellent customer service and to put our customer's interest first at all times. JinkoSolar will continue to ensure the timely delivery and reliability of our premium, high-quality products for the DEWA Phase V project. Also, we are excited about exploring more opportunities with Shanghai Electric, deepening our partnership and further expand China's contribution to the global solar industry."