CANTON, Mass., June 26, 2012 /PRNewswire-Asia/ -- JinkoSolar Holding Co., Ltd. (" JinkoSolar" or the "Company") (NYSE: JKS), a fast-growing, agile global solar power product manufacturer, today announced that the company will supply its modules to a 5.75MW array of solar panels located on the site of the former Canton landfill in Canton, MA. In partnership with Boston-based renewable energy project developer Southern Sky Renewable Energy LLC ( SSRE), the project brings life to the two decades-long unused space, serving as a valuable revenue generator and clean power solution for the local community.
The Canton landfill project is part of a growing movement to revitalize abandoned, underused industrial areas known as "brownfields" and convert them into economically productive, clean power-generating sites. JinkoSolar worked with New England-based ISM Solar Solutions, LLC and SSRE to design and implement a solar panel array that maximizes energy generation capacity for the 15-acre site. The facility was constructed by Gemma Renewable Power, LLC, a nationally recognized Engineering, Procurement and Construction (EPC) contractor that provides a full range of services to owners and developers of renewable energy projects. Upon completion later this year, the solar array will produce enough solar energy to generate $16.3M in property lease and energy generation revenue for the town of Canton.
"Hundreds of closed landfills across the state are sitting idle when they can, in fact, be turned into major sources of revenue. For communities like Canton that are in dire need of tangible economic growth, solar power arrays provide a major opportunity," said Francis X. McMahon, managing director of SSRE. "With this opportunity in mind, we opted for JinkoSolar's ground-mounted solar panels because they provide a non-invasive, topographical solution that is perfectly designed for this type of project. We look forward to showcasing this project as a case study for a new, environmentally-sound direction for communities like Canton."The town of Canton explored several options for repurposing the former landfill site, many of which they rejected due to capital intensity. In 2010, following a request for proposals for the landfill solar project, Canton selected SSRE's proposal. After analyzing the revenue generation potential, various town boards reviewed and signed off on the $25 million project that incorporates 19,844 JinkoSolar solar modules – making it one of the largest solar electric developments in New England. "Redevelopment projects like this bring a multitude of benefits to local communities, in addition to the inherent advantages of clean, renewable power generation," said Arturo Herrero, Chief Marketing Officer at JinkoSolar. "As a global company with a vested interest in the communities where we do business, we strive to partake in sustainable solutions that are economically – and environmentally – viable in the long run. We are proud to be a part of this project in partnership with SSRE because it sets the stage for a new era of vitality in Canton." "Our price- and quality-sensitive arrangements with technology suppliers around the world ensure that we get the job done right, and on time," said Greg Lucini, CEO of ISM Solar Solutions, LLC, which facilitated the working partnership between JinkoSolar and SSRE." Canton was a smooth project from start to finish, thanks to our reputable partners JinkoSolar and SSRE." SSRE has signed on for a 25-year lease to operate the Canton landfill solar site, which is expected to come online in the summer of 2012. About JinkoSolar JinkoSolar Holding Co., Ltd. (NYSE: JKS) is a fast-growing, agile global solar power product manufacturer with cost efficient operations based in Jiangxi Province and Zhejiang Province in China and sales and marketing offices in Shanghai, China, Singapore, Munich, Germany, San Francisco, U.S., Queensland, Australia, Ontario, Canada, Bologna, Italy, Montpellier, France and Zug, Switzerland. JinkoSolar has built a global solar product value chain with an integrated annual capacity of approximately 1.2GW each for silicon ingots, wafers, solar cells and solar modules as of December 31, 2011. JinkoSolar distributes its photovoltaic products to a diversified customer base in the global PV market; including Italy, Germany, Belgium, Spain, the United States, France, Eastern Europe, China and other countries and regions. About Southern Sky Renewable Energy (SSRE) Southern Sky Renewable Energy, LLC is a Boston, MA based solar development company. Southern Sky Renewable Energy is currently developing solar PV projects in Canton, MA, Carver, MA and Berkley, MA. About ISM Solar Solutions, LLC ISM Solar Solutions is the renewable energy division of International Sourcing & Marketing, Ltd (ISM). Since 1987 ISM has provided product sourcing and manufacturing solutions to the world's leading technology companies. ISM is based in Providence, Rhode Island with offices in China, India, Philippines, Thailand and Europe. About Gemma Renewable Power, LLC Gemma Renewable Power (GRP) is a national Engineering, Procurement, and Construction (EPC) organization that specializes in the construction of renewable energy projects. The company has completed a range of utility scale wind and solar projects across the country. GRP is currently engaged in the construction of both wind and solar projects in western Illinois, Massachusetts and central Pennsylvania. Gemma Renewable Power is an affiliate of Gemma Power Systems, LLC, a wholly owned subsidiary of Argan, Inc. (NYSE MKT: AGX). Safe Harbor Statement This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements involve inherent risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's public filings with the Securities and Exchange Commission, including its annual report on Form 20-F for the fiscal year ended December 31, 2011 filed with the Securities and Exchange Commission on April18, 2012. All information provided in this press release is as of June 26 2012. Except as required by law, JinkoSolar undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. SOURCE JinkoSolar Holding Co., Ltd.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV