JinkoSolar will be supplying 104 MW dc of PV solar panels for the Utah Red Hills Renewable Park project.
JinkoSolar will deliver over 340,000 of its utility-scale, high-efficiency polycrystalline 72-cell panels to the Utah Red Hills Renewable Park though a contract with Swinerton Renewable Energy.
Scatec Solar, the project’ developer has hired Swinerton Renewable Energy to construct the plant and procure the appropriate technologies.
The Utah Red Hills Renewable Park will be built on a site with better solar irradiation and generate around 210 million kWh of electricity per year.
The produced power will be fed into the grid under a twenty-year PPA with PacifiCorp’s Rocky Mountain Power, according to the utility’s obligation under the federal Public Utility Regulatory Policies Act.
In a similar development, JinkoSolar announced the supply of 75 MW of PV solar modules to Swinerton Renewable Energy for the Red Horse 2 Wind and Solar project in Cochise, Arizona.
The project acquired by an affiliate of DE Shaw Renewable Investments last August will utilize 248,750 of JinkoSolar’s 72-cell polycrystalline solar panels.
Swinerton Renewable Energy will not only develop and construct the project, but also provide operations and maintenance services to the facility. The hybrid project is expected to provide power to 13,500 homes on completion.
The generated electricity can power approximately 18,500 homes, equivalent to 145 thousand tons of carbon dioxide emissions annually.
Recently, JinkoSolar entered into a five-year RMB3 billion ($479 million) financing agreement with China Minsheng Banking Corp (CMBC).
According to the agreement, CMBC will provide this financial aid to develop downstream solar projects and manufacturing capabilities for JinkoSolar.
CMBC’S financial services will include project finance, merger and acquisition finance, supply chain finance, bridge loans, letters of guarantee and related trade finance.
In addition, the agreement will also cover working capital finance and foreign currency cash pool management for JinkoSolar’s domestic and overseas subsidiaries. This will help the company to optimize its debt structure and reduce financial costs.
Sabeena Wahid
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