Chinese photovoltaic (PV) manufacturer JinkoSolar’s US subsidiary has entered a three-year contract with renewable energy firm sPower, agreeing to deliver 1.43GW solar modules to the independent power producer.
The new agreement is expected to further strengthen the strategic relationship between JinkoSolar US and sPower.
sPower CEO Ryan Creamer said: “We have had a strong track record of success with JinkoSolar’s high quality and reliable modules, which is why we have signed another deal.
“JinkoSolar’s technology roadmap and cost leadership are also strong enablers for our future projects, and we look forward to maintaining our strong partnership.” To date, Jinko Solar is said to have delivered more than 800MW (nearly 2.5 million solar panels) for sPower’s PV projects.
sPower is owned by a joint venture partnership between US-based electricity distribution company AES and Canadian fund manager Alberta Investment Management (AIMCo).
Currently, sPower owns and operates a portfolio of solar and wind assets greater than 1.3GW and has a development pipeline of more than 10GW.
With over 12,000 employees, JinkoSolar operates eight production facilities across the globe and has 16 overseas subsidiaries located in the US, Japan, Singapore, India, Turkey, Germany, Italy, Switzerland, Canada, Mexico, Brazil, Chile, Australia, South Africa and UAE.
JinkoSolar Sales and Marketing vice-president Gener Miao said: “We are very pleased to work with sPower. We value the opportunity to grow our business with a visionary like sPower.
“JinkoSolar has been investing heavily in advanced solar technologies, and these efforts have yielded major benefits.”
The agreement includes significant down payments, which will enable Jinko Solar to further expand its manufacturing capacity in the US and Asia.