JinkoSolar Holding Co. (JKS), the best-performing Chinese solar manufacturer over the past year, is planning to build 100 megawatts of power plants in China’s Jiangxi Province.
The company expects to invest about 800 million yuan ($130 million) and will receive a subsidy of 1.2 yuan per kilowatt hour, Shangrao, China-based JinkoSolar said today in a statement. Construction on the solar farms is expected to be finished in the fourth quarter.
The projects are expected to generate about 110 million kilowatt-hours of power a year and revenue of 132 million yuan.
JinkoSolar’s American depositary receipts, each worth four ordinary shares, have almost doubled in the past 12 months, the most among Chinese manufacturers on the Bloomberg Intelligence Global Large Solar Energy Index.
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