SHANGHAI, March 19, 2015 /PRNewswire-FirstCall/ — JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the PV industry, today announced that it plans to build a solar cell and module manufacturing facility in Penang, Malaysia.
Located in Penang, Malaysia, the manufacturing facility will utilize the latest high – efficiency multi-crystalline technology, and once completed, will provide JinkoSolar with additional production capacity of 500MW for solar PV cells and 450MW for modules. The Company has signed a tenancy agreement with Nationgate Technology (M) Sdn. Bhd. for the workshops in which the production line is going to be built. JinkoSolar will invest approximately US$100 million to build the plant including equipment and working capital which is expected to begin operations in May 2015.
"We are excited to be among the first Chinese solar manufacturers to invest in Malaysia. The Malaysian plant will be our first overseas cell production facility and its module capacity will add to our overseas module capacity, currently located in South Africa and Portugal. By expanding our production capacity geographically, we are further diversifying our global manufacturing layout and enhancing our competitiveness in overseas markets." commented Mr. Kangping Chen, JinkoSolar’s Chief Executive Officer. "Malaysia continues to support the growth of the renewable energy industry by leveraging its competitive cost environment, relatively advanced industrial capabilities, talent pool of well educated engineers, and preferential tax policies. Our project is strongly supported by MIDA (Malaysian Industrial Development Authority) and the local government. We are looking forward to working closely with them to create local jobs and help further promote the development of solar industry in Malaysia."
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is a global leader in the solar industry. 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, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 2.5 GW for silicon ingots and wafers, 2.0 GW for solar cells, and 3.2 GW for solar modules, as of December 31, 2014. JinkoSolar also sells electricity in China, and has connected approximately 500 MW of solar power projects to the grid, as of December 31, 2014.
JinkoSolar has over 13,000 employees spread across its 11 subsidiaries in Germany, Italy, Switzerland, the United States, Canada, Australia, Singapore, Japan, India, South Africa and Chile; 12 global sales offices in China, Spain, the United Kingdom, the United Arab Emirates, Jordan, Saudi Arabia, Egypt, Morocco, Ghana, Brazil, Costa Rica and Mexico; and four productions facilities in Jiangxi and Zhejiang Provinces, China, Portugal and South Africa.
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:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21 6061 1792
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