Solar products and solution maker JinkoSolar has signed a deal to sell 1GW of solar PV modules to China Minsheng New Energy (CMNE).
CMNE is a part of China Minsheng Investment and focuses mostly upon renewable energy.
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Under the strategic cooperation agreement between the companies, JinkoSolar will sell minimum of 1 GW of solar PV modules over two-year tenure starting this year.
CMNE will buy 600MW of solar PV modules this year and the company and specific terms of the agreement will be subject to the formal purchase contract signed by both companies.
CMNE is also planning to invest around RMB 200bn ($32.72m) in projects worth 20 GW over the next five years and it will make the company a leading investor and operator of renewable energy in China.
JInkoSolar chairman Xiande Li said: "As an investment company approved by China’s State Council, CMIC has the advantage of analysing government policy and deploying capital efficiently.
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By GlobalData"CMIC has targeted and deployed its capital in key industries that are in line with China’s national strategy since its establishment and one of their focus points of investment is the solar industry.
"We look forward to developing a long-term relationship with CMIC as we jointly committed to promote the development of the solar industry in China."
