JinkoSolar Holding Co. (JKS), a Chinese solar panel maker, plans to invest 5 billion yuan ($812 million) to develop 500 megawatts of solar power in Lishui city.
The agreement with the Lishui Economic Development Zone in the eastern Chinese province of Zhejiang envisages JinkoSolar installing 200 megawatts of ground-mounted panels in hilly areas and the rest on rooftops, according to a statement on the website of the Zhejiang provincial government. Construction of the project is expected to be completed by 2018.
The company received $225 million in private funding last month for new projects.
To contact Bloomberg News staff for this story: Feifei Shen in Beijing at email@example.com