After ten years of perseverance, it now sets sail for a long journey. On July 28, 2021, Jinko Power (601778.SH) celebrated its 10th anniversary. For ten years, Jinko Power has been focusing on the downstream industry chain of photovoltaic power generation, and continuously expanding the value boundaries of renewable energy; for ten years, Jinko Power has been true to its responsibility and intention to fulfill the green mission, and committed to continuously contributing innovative thinking and benchmark power to the global energy revolution; for ten years, Jinko Powerhas been actively looking for the path to outdo itself and making every effort to shape the best practice of integrated energy services.
At the staff meeting for the company’s 10th anniversary held on July 28, Jinko Power’s Board Chairman Li Xiande said in his speech: “I hope that in the future, the company will get ready before starting off, keep patient, never regret for missing chances, but have perseverance and assurance.We must believe that on the best track in the industry, we are the best team.This era gives us great opportunities for development. Please maintain the edges of a startup, see and seize opportunities. Excellence is the goal of Jinko Power.”
Leading Industry Reform, Scale Is Influence
For ten years, Jinko Power has maintained its momentum of vigorous development. At the end of 2020, the company had 337 photovoltaic power plants in more than 20 provinces in China, with a total installed capacity of about 3.08GW and cumulative total power production of more than 14 billion KWH, providing energy management and energy services for more than 1,000 power plant owners, industrial and commercial customers and park customers; the idle capacity of domestic bases exceeded 10GW; the capacity of purchasing power parity (PPP) projects exceeded 5GW; the capacity of overseas power plants under construction and planned was 3.4GW; the capacity of overseas reserve projects exceeded 10GW.
In the core business line of power plant development, with its long-term accumulated experience in photovoltaic power plant development, development team in five regions of China and outstanding integrated solutions for photovoltaic power plants, in 2020, the company developed domestic projects of about 2.25GW and overseas projects of about 2.50GW, further consolidating its leading position in the field of power plant development.
In addition, the company is also accelerating the development of large-scale integrated energy bases.Up to now, the company has successively signed GW-level strategic cooperation agreements with Hekou District of Dongying in Shandong, Fujin in Heilongjiang, Xinfu District of Fushun in Liaoning, Feidong County in Anhui, Fengcheng in Jiangxi and so on, laying a solid foundation for its sustainable development.
Integrating Global Resources, Core Competences Are Prominent
Excalibur takes ten years to sharpen. Jinko Power concentrates on the global photovoltaic power market and integrates the best global resources. With its professional photovoltaic power generation technology services and the financing channels of its partners, Jinko Power has bid for large-scale overseas photovoltaic power plant projects many times. At the end of 2020, the company had won bids for 4 photovoltaic power plant projects in the Middle East, Europe, Asia Pacific and other regions, with a total capacity of about 2.47GW.
It is worth mentioning that Jinko Power and a renewable energy company owned by Electricite de France (EDF) jointly won the bid for a 2.1GW solar power plant project in Abu Dhabi, the benchmark power plant project with the largest scale and lowest on-grid price in the world then, which was recognized by the industry. As the first large-scale double-sided solar power plant, it is expected to cover 20 square kilometers of desert climate zone and generate enough electricity to power around 160,000 UAE households.
Recently, the project was named a "Utility-Scale Solar Project of 2021" by the Middle East Solar Industry Association (MESIA) and a "Renewable Energy Solar Deal of the Year in Central and East Africa" by IJGlobal.
Besides, the company has established strategic partnership with world-famous companies such as Aden Group and Air Products. It will carry out all-round in-depth cooperation with them in photovoltaic power plant development and photovoltaic hydrogen production in the future.
Seizing the Momentum, Business Model Innovation Is Inevitable
By 2050, solar and wind power will be the absolute mainstay of China’s energy system. During the 14th Five-Year Plan Period, Jinko Power will continue to expand the scale of power plant construction, and increase the construction of energy storage, hydrogen energy, BIPV and "wind and photovoltaic energy storage" integrated energy bases.
Not long ago, Jinko Power CEO Jin Rui proposed a "concentric circle" photovoltaic development model. He said: “from photovoltaic power plant development to the entire photovoltaic industry chain, Jinko Power will enable photovoltaic + diverse application scenarios and explore emerging industries such as green power trading, carbon trading, and photovoltaic hydrogen production, to fulfill the zero-carbon vision with practical actions.”
Facing new changes and new patterns in the distributed photovoltaic energy revolution, the company has jointly launched a new BIPV solution with USAS. In the future, both sides will explore the demonstration role of pilot projects, provide more realization paths for the comprehensive promotion of BIPV, and support the high-quality and rapid promotion of "countywide distributed photovoltaic power".
Consolidating the Foundation for Development and Improving the Capital Structure
Since the company went public in 2020, its high-quality development has been favored and recognized by the capital market. It has been selected as a sample stock in SSE 180 Index and FTSE Russell Index.Recently, the company successfully completed the public offering of convertible bonds totaling 3 billion yuan (bond name: Jinko Convertible Bond, bond code: 113048). This benefits from investors' expectation and recognition of the company's development prospects. It is also an important milestone in the company’s global development with the help of the capital market.
In the future, the company will stick to its great mission and responsibility as a public company, seize market opportunities, and repay shareholders, investors and society with better performance. As the world's leading clean energy service provider, the company will continue to explore the industry in depth and accelerate the high-quality development of clean energy.
With the advent of the new era of purchasing power parity (PPP), the photovoltaic industry has ushered in a new current for power generation applications. The integration of power generation, grid, load and storage, countywide development and BIPV create infinite imagination and space for human energy use. Facing the new era and new situation, Jinko Power will always maintain the spirit of innovation, continue to expand the application of photovoltaic power in new fields and the integration of related industries, and continue to lead the transformation of the energy industry.
