JinkoSolar Establishes U.S. Subsidiary in San Francisco; Announces European Solar Module Supply Agreements
JinkoSolar Holding Co., Ltd., a solar product manufacturer with operations based in China, announce that it has established a U.S. subsidiary with an office in San Francisco, California. The U.S. subsidiary is expected to function as a marketing and service base to increase JinkoSolar’s brand recognition and facilitate business development in strategic markets within North America.
Arturo Herrero, Chief Strategy Officer at JinkoSolar, commented, "We are proud to expand our marketing network to the United States. We believe that with the establishment of the new U.S. subsidiary we are well positioned to capitalize on the fast growing U.S. PV market, which holds tremendous economic potential in the next couple of years. Our new U.S. subsidiary will allow us to provide better services and strengthen our relationships with existing North American customers as well as help us attract new customers in the region. In addition, the subsidiary’s strategic location in San Francisco provides us with access to California’s fast-growing solar market, through which we expect to further penetrate the U.S. market with our leading low-cost solar modules benefiting from our vertically integrated business model."
Jinko announced that it has signed two supply agreements, the first being with Enfinity Asia Pacific Limited which is wholly owned by Enfinity N.V., a global renewable energy developer. Under the terms of the agreement, JinkoSolar will supply Enfinity with 100MW of JinkoSolar branded solar PV modules throughout the year of 2011.
The second agreement is to supply a total of 54 MW of solar modules to Saint-Gobain Building Distribution Deutschland GmbH ("SGBDD"). Under the terms of the agreements, JinkoSolar will supply SGBDD with 54 MW of solar modules, with 4 MW to be shipped in 2010 and 50 MW to be shipped in 2011.