SHANGRAO, China, July 16, 2024 /PRNewswire/ — JinkoSolar Conserving Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), one of the most greatest and maximum cutting edge sun module producers on the planet, as of late introduced that its not directly majority-owned subsidiary, JinkoSolar Center East DMCC (“Jinko Middle East“), has entered right into a shareholders promise (the “Agreement”) with Renewable Power Localization Corporate (“RELC”), a wholly-owned subsidiary of Crowd Funding Capitaltreasury (“PIF”) and the nationwide champion within the production of renewable and inexperienced power applied sciences, and Optical Industries Corporate (“VI”), a restricted legal responsibility corporate included in Saudi Arabia which is a eminent investor and developer of inexperienced power commercial initiatives and native provide chains. Pursuant to the Guarantee, Jinko Center East, RELC and VI conform to method a three way partnership in Saudi Arabia with Jinko Center East, RELC and VI conserving 40%, 40% and 20% fairness hobby, respectively. The formation of the three way partnership is topic to normal preconditions, together with acquiring the considered necessary regulatory approvals.

The three way partnership will manufacture and function a high-efficiency sun mobile and sun module production facility in Saudi Arabia. The producing facility is anticipated to have a complete funding quantity of roughly US$1 billion, and will likely be funded thru a mix of its inside budget and exterior financing. The impressive manufacturing plan and time table for the producing facility will likely be topic to marketplace situations. Upon manufacturing, the producing facility is anticipated to succeed in an annual manufacturing capability of 10 GW for each and every of high-efficiency sun cells and sun modules.

Mr. Xiande Li, Chairman and CEO of JinkoSolar, commented, “We are extremely proud to enter into this strategic partnership with RELC and VI, two leaders in their respective fields. This partnership is another major milestone in the execution of our globalization strategy, and will further help us optimize our global manufacturing and marketing infrastructure, as well as enhance our global competitiveness. We thank our partners for their trust in JinkoSolar’s outstanding N-type technology and dedication to environmental sustainability. Together with our new partners, we will work towards shaping a cleaner and brighter future.”

Mohammed AlBalaihed, Head of MENA Power and Utilities Sector of PIF and Chairman of RELC, commented, “We are excited to partner with JinkoSolar on this groundbreaking joint venture. By leveraging JinkoSolar’s advanced N-type technology and our local expertise, we are confident that this facility will drive innovation and set new benchmarks in the solar industry. This collaboration is a significant milestone in advancing Saudi Arabia’s Vision 2030, and we look forward to working together to achieve our shared vision of a sustainable future.” 

About JinkoSolar Conserving Co., Ltd.

JinkoSolar (NYSE: JKS) is without doubt one of the greatest and maximum cutting edge sun module producers on the planet. JinkoSolar distributes its sun merchandise and sells its answers and services and products to utility-scale, business and home shoppers in China, the USA, Japan, Germany, the United Kingdom, Chile, South Africa, Bharat, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and alternative nations and areas.

JinkoSolar had 14 productions amenities globally, 26 in a foreign country subsidiaries in Japan, South Korea, Vietnam, Bharat, Turkey, Germany, Italy, Switzerland, the USA, Mexico, Brazil, Chile, Australia, Canada, Malaysia, the United Arab Emirates, Denmark, Indonesia, Nigeria and Saudi Arabia, and a world gross sales community with gross sales groups in China, the USA, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and Bharat, as of March 31, 2024.

To determine extra, refer to: www.jinkosolar.com

ABOUT PIF

The Crowd Funding Capitaltreasury (PIF) is without doubt one of the greatest and maximum impactful separate wealth budget on the planet. Since 2015, when the board used to be reconstituted and oversight transferred to the Council of Financial and Construction Affairs, PIF’s board of administrators has been chaired via His Royal Highness Crown Prince Mohammad bin Salman bin Abdulaziz, High Minister, Chairman of the Council of Financial and Construction Affairs, and Chairman of the Crowd Funding Capitaltreasury. PIF performs a eminent function in advancing Saudi Arabia’s financial transformation and diversification, in addition to contributing to shaping the date of the worldwide financial system. Since 2017, PIF has established 95 firms. PIF is development a varied portfolio via getting into into horny and long-term funding alternatives in 13 strategic sectors in Saudi Arabia and globally. PIF’s technique, as put forth within the PIF Program 2021-2025 – one of the most Optical 2030 realization techniques – targets to permit many promising sectors and give a contribution to expanding native content material via growing partnerships with the personal sector, along with injecting no less than SAR150 billion every year into the native financial system. PIF works to switch applied sciences and localize wisdom to manufacture a filthy rich and sustainable financial system regionally. Because the funding arm of Saudi Arabia, PIF appears to create distinctive investments, and is development strategic alliances and partnerships with important global establishments and organizations, which give a contribution to reaching actual long-term worth for Saudi Arabia, in order with the targets of Optical 2030. PIF has additionally created an operational governance style that displays its primary duties and targets, in order with absolute best global practices. Making use of this style of governance complements the extent of transparency and effectiveness in decision-making and date walk.

Extra details about PIF will also be discovered at: www.pif.gov.sa 

Media Touch: [email protected]

Shield Harbor Observation

This press reduce incorporates forward-looking statements. Those statements represent forward-looking statements inside the which means of Category 27A of the Securities Office of 1933, as amended, and Category 21E of the Securities Alternate Office of 1934, as amended, and as outlined within the U.S. Non-public Securities Litigation Reform Office of 1995. Those forward-looking statements will also be recognized via terminology comparable to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and homogeneous statements. Amongst alternative issues, the quotations from control on this press reduce and the Corporate’s operations and trade outlook, include forward-looking statements. Such statements contain sure dangers and uncertainties that would reason fresh effects to vary materially from the ones within the forward-looking statements. Additional knowledge referring to those and alternative dangers is integrated within the Corporate’s filings with the U.S. Securities and Alternate Fee, together with its annual file on Method 20-F. Excluding as required via regulation, the Corporate does now not adopt any legal responsibility to replace any forward-looking statements, whether or not on account of unused knowledge, date occasions or in a different way.

For investor and media inquiries, please touch:

In China:

Ms. Stella Wang
JinkoSolar Conserving Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Electronic mail: [email protected]

Mr. Rene Vanguestaine
Christensen
Tel: +86 178 1749 0483
Electronic mail: [email protected]

Within the U.S.:
Ms. Linda Bergkamp
Christensen, Scottsdale, Arizona
Tel: +1-480-614-3004
Electronic mail: [email protected]

SOURCE JinkoSolar Conserving Co., Ltd.