JinkoSolar Holding Co. Ltd. partners with Marubeni on 1177-MW UAE solar project selling power to ADWEA

Written By: Stratton Report
March 1, 2017

Jinko Solar

On March 1, JinkoSolar Holding Co., Ltd., announced that as part of a consortium with Marubeni Corporation it had signed a 25-year PPA with the Abu Dhabi Water and Electricity Company for the 1177-MW Solar PV Independent Power Project located at Sweihan, UAE.

Per JinkoSolar, a special purpose company jointly owned by itself, Marubeni, and the Abu Dhabi Water and Electricity Authority will construct, operate and maintain the PV plant. All power generated will be sold to ADWEC, a wholly owned entity of the ADWEA. The project’s financial agreements are expected to close in April 2017 with commercial operation expected to begin in 2019.

H.E Abdullah Ali Musleh Al Ahbabi, Chairman of ADWEA noted:

Today’s important milestone is a highly significant event for both the Emirate of Abu Dhabi and also for the global Solar PV market. Not only will the Project, once constructed, be the world’s largest single utility scale solar PV plant, but the price of net electrical energy that we have agreed to today is one of the most competitive prices seen to date in the Solar PV industry.

Xiande Li, Chairman of JinkoSolar commented: “We are excited to be a part of the significant milestone project to co-develop with ADWEC and Marubeni. The execution of the PPA demonstrates our strong technical skills, reliable high-efficiency products and development capabilities. We are proud of making a significant contribution to the development of the solar industry in the Emirate of Abu Dhabi.”