{"id":388994,"date":"2020-11-27T07:00:17","date_gmt":"2020-11-27T12:00:17","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=388994"},"modified":"2020-11-27T07:00:17","modified_gmt":"2020-11-27T12:00:17","slug":"jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\/","title":{"rendered":"JinkoSolar Sells Its Stake in Abu Dhabi Sweihan Power Station"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>SHANGRAO, <span class=\"xn-location\">China<\/span>, <span class=\"xn-chron\">Nov. 27, 2020<\/span> \/PRNewswire\/ &#8212; JinkoSolar Holding Co., Ltd. (&#8220;JinkoSolar&#8221; or the &#8220;Company&#8221;) (NYSE:JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that its wholly-owned subsidiary JinkoSolar Sweihan (HK) Limited (&#8220;Sweihan HK&#8221;) has signed a share and debt purchase agreement with <span class=\"xn-person\">Jinko Power<\/span> (HK) Company Limited (&#8220;Jinko HK&#8221;), an indirectly wholly-owned subsidiary of Jinko Power Technology Co., Ltd. (&#8220;JinkoPower&#8221;) . <\/p>\n<p>Pursuant to the agreement, Sweihan HK will sell its 50% equity interest in Sweihan Solar Holding Company Limited (&#8220;Sweihan Holding&#8221;) to Jinko HK. Sweihan Holding holds a 40% equity interest in Sweihan PV Power Company PJSC (the &#8220;Project Company&#8221;), the operating entity of a 1,200 MW photovoltaic power plant in <span class=\"xn-location\">Abu Dhabi<\/span> (the &#8220;Sweihan Power Station&#8221;). Upon completion of the transaction, which is subject to the closing conditions set forth in the agreement, Jinko HK will indirectly hold a 20% equity interest in the Project Company. The closing of this transaction is subject to approvals by Emirates Water and Electricity Company (&#8220;EWEC&#8221;), other shareholders of Sweihan Holding and the Project Company, and the project finance lenders.<\/p>\n<p>The Sweihan Power Station is located in the Eastern Region of the Emirate of <span class=\"xn-location\">Abu Dhabi<\/span>. In <span class=\"xn-chron\">September 2016<\/span>, JinkoSolar and Marubeni Corporation (&#8220;Marubeni&#8221;) formed a consortium that won the bid for the project. All the power generated for an initial period of 25 years will be contractually sold to EWEC.<\/p>\n<p>Mr. <span class=\"xn-person\">Kangping Chen<\/span>, Chief Executive Officer of JinkoSolar, commented, &#8220;We are glad to have reached this agreement with JinkoPower. This divestiture will help JinkoSolar focus on its core business, enhance our strength and further sustain our long term growth in the global PV industry.&#8221;<\/p>\n<p>\n        <b>About JinkoSolar Holding Co., Ltd.<\/b>\n      <\/p>\n<p>JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in <span class=\"xn-location\">China<\/span>, <span class=\"xn-location\">the United States<\/span>, <span class=\"xn-location\">Japan<\/span>, <span class=\"xn-location\">Germany<\/span>, the <span class=\"xn-location\">United Kingdom<\/span>, <span class=\"xn-location\">Chile<\/span>, <span class=\"xn-location\">South Africa<\/span>, <span class=\"xn-location\">India<\/span>, <span class=\"xn-location\">Mexico<\/span>, <span class=\"xn-location\">Brazil<\/span>, the <span class=\"xn-location\">United Arab Emirates<\/span>, <span class=\"xn-location\">Italy<\/span>, <span class=\"xn-location\">Spain<\/span>, <span class=\"xn-location\">France<\/span>, <span class=\"xn-location\">Belgium<\/span>, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 20 GW for mono wafers, 11 GW for solar cells, and 25 GW for solar modules, as of <span class=\"xn-chron\">June 30, 2020<\/span>.<\/p>\n<p>JinkoSolar has 9 productions facilities globally, 14 overseas subsidiaries in <span class=\"xn-location\">Japan<\/span>, <span class=\"xn-location\">South Korea<\/span>, <span class=\"xn-location\">Vietnam<\/span>, <span class=\"xn-location\">India<\/span>, <span class=\"xn-location\">Turkey<\/span>, <span class=\"xn-location\">Germany<\/span>, <span class=\"xn-location\">Italy<\/span>, <span class=\"xn-location\">Switzerland<\/span>, <span class=\"xn-location\">United States<\/span>, <span class=\"xn-location\">Mexico<\/span>, <span class=\"xn-location\">Brazil<\/span>, <span class=\"xn-location\">Chile<\/span> and <span class=\"xn-location\">Australia<\/span>, and global sales teams in <span class=\"xn-location\">China<\/span>, <span class=\"xn-location\">United Kingdom<\/span>, <span class=\"xn-location\">France<\/span>, <span class=\"xn-location\">Spain<\/span>, <span class=\"xn-location\">Bulgaria<\/span>, <span class=\"xn-location\">Greece<\/span>, <span class=\"xn-location\">Ukraine<\/span>, <span class=\"xn-location\">Jordan<\/span>, <span class=\"xn-location\">Saudi Arabia<\/span>, <span class=\"xn-location\">Tunisia<\/span>, <span class=\"xn-location\">Morocco<\/span>, <span class=\"xn-location\">Kenya<\/span>, <span class=\"xn-location\">South Africa<\/span>, <span class=\"xn-location\">Costa Rica<\/span>, <span class=\"xn-location\">Colombia<\/span>, <span class=\"xn-location\">Panama<\/span>, <span class=\"xn-location\">Kazakhstan<\/span>, <span class=\"xn-location\">Malaysia<\/span>, <span class=\"xn-location\">Myanmar<\/span>, <span class=\"xn-location\">Sri Lanka<\/span>, <span class=\"xn-location\">Thailand<\/span>, <span class=\"xn-location\">Vietnam<\/span>, <span class=\"xn-location\">Poland<\/span> and <span class=\"xn-location\">Argentina<\/span>.<\/p>\n<p>To find out more, please see: <a target=\"_blank\" href=\"http:\/\/www.jinkosolar.com\/\" rel=\"nofollow noopener noreferrer\">www.jinkosolar.com<\/a>.\u00a0 <\/p>\n<p>\n        <b>Safe-Harbor Statement<\/b>\n      <\/p>\n<p>This press release contains forward-looking statements. These statements constitute &#8220;forward-looking&#8221; 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 &#8220;will,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;future,&#8221; &#8220;intends, &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;estimates&#8221; and similar statements. Among other things, the quotations from management in this press release and the Company&#8217;s operations and business outlook, contain forward-looking statements. Such statements involve certain 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&#8217;s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.<\/p>\n<p>For investor and media inquiries, please contact:<\/p>\n<p>In <span class=\"xn-location\">China<\/span>:<br \/>Ripple Zhang<br \/>JinkoSolar Holding Co., Ltd.<br \/>Tel: +86 21-5183-3105<br \/>Email: <a target=\"_blank\" href=\"mailto:ir@jinkosolar.com\" rel=\"nofollow noopener noreferrer\">ir@jinkosolar.com<\/a><\/p>\n<p>Rene Vanguestaine<br \/>Christensen<br \/>Tel: + 86 178 1749 0483<br \/>Email: <a target=\"_blank\" href=\"mailto:rvanguestaine@ChristensenIR.com\" rel=\"nofollow noopener noreferrer\">rvanguestaine@ChristensenIR.com<\/a>\u00a0<\/p>\n<p>In the U.S.:<br \/>Ms. <span class=\"xn-person\">Linda Bergkamp<\/span><br \/>Christensen<br \/>Tel: +1-480-614-3004<br \/>Email: <a target=\"_blank\" href=\"mailto:lbergkamp@ChristensenIR.com\" rel=\"nofollow noopener noreferrer\">lbergkamp@ChristensenIR.com<\/a><\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN05079&amp;sd=2020-11-27\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station-301181118.html\">http:\/\/www.prnewswire.com\/news-releases\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station-301181118.html<\/a><\/p>\n<p>SOURCE  JinkoSolar Holding Co., Ltd.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CN05079&amp;Transmission_Id=202011270524PR_NEWS_USPR_____CN05079&amp;DateId=20201127\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire SHANGRAO, China, Nov. 27, 2020 \/PRNewswire\/ &#8212; JinkoSolar Holding Co., Ltd. (&#8220;JinkoSolar&#8221; or the &#8220;Company&#8221;) (NYSE:JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that its wholly-owned subsidiary JinkoSolar Sweihan (HK) Limited (&#8220;Sweihan HK&#8221;) has signed a share and debt purchase agreement with Jinko Power (HK) Company Limited (&#8220;Jinko HK&#8221;), an indirectly wholly-owned subsidiary of Jinko Power Technology Co., Ltd. (&#8220;JinkoPower&#8221;) . Pursuant to the agreement, Sweihan HK will sell its 50% equity interest in Sweihan Solar Holding Company Limited (&#8220;Sweihan Holding&#8221;) to Jinko HK. Sweihan Holding holds a 40% equity interest in Sweihan PV Power Company PJSC (the &#8220;Project Company&#8221;), the operating entity of a 1,200 MW photovoltaic power plant &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;JinkoSolar Sells Its Stake in Abu Dhabi Sweihan Power Station&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-388994","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>JinkoSolar Sells Its Stake in Abu Dhabi Sweihan Power Station - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JinkoSolar Sells Its Stake in Abu Dhabi Sweihan Power Station - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire SHANGRAO, China, Nov. 27, 2020 \/PRNewswire\/ &#8212; JinkoSolar Holding Co., Ltd. (&#8220;JinkoSolar&#8221; or the &#8220;Company&#8221;) (NYSE:JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that its wholly-owned subsidiary JinkoSolar Sweihan (HK) Limited (&#8220;Sweihan HK&#8221;) has signed a share and debt purchase agreement with Jinko Power (HK) Company Limited (&#8220;Jinko HK&#8221;), an indirectly wholly-owned subsidiary of Jinko Power Technology Co., Ltd. (&#8220;JinkoPower&#8221;) . Pursuant to the agreement, Sweihan HK will sell its 50% equity interest in Sweihan Solar Holding Company Limited (&#8220;Sweihan Holding&#8221;) to Jinko HK. Sweihan Holding holds a 40% equity interest in Sweihan PV Power Company PJSC (the &#8220;Project Company&#8221;), the operating entity of a 1,200 MW photovoltaic power plant &hellip; Continue reading &quot;JinkoSolar Sells Its Stake in Abu Dhabi Sweihan Power Station&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-27T12:00:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN05079&amp;sd=2020-11-27\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"JinkoSolar Sells Its Stake in Abu Dhabi Sweihan Power Station\",\"datePublished\":\"2020-11-27T12:00:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\\\/\"},\"wordCount\":681,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=CN05079&amp;sd=2020-11-27\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\\\/\",\"name\":\"JinkoSolar Sells Its Stake in Abu Dhabi Sweihan Power Station - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\/","og_locale":"en_US","og_type":"article","og_title":"JinkoSolar Sells Its Stake in Abu Dhabi Sweihan Power Station - Market Newsdesk","og_description":"PR Newswire SHANGRAO, China, Nov. 27, 2020 \/PRNewswire\/ &#8212; JinkoSolar Holding Co., Ltd. (&#8220;JinkoSolar&#8221; or the &#8220;Company&#8221;) (NYSE:JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that its wholly-owned subsidiary JinkoSolar Sweihan (HK) Limited (&#8220;Sweihan HK&#8221;) has signed a share and debt purchase agreement with Jinko Power (HK) Company Limited (&#8220;Jinko HK&#8221;), an indirectly wholly-owned subsidiary of Jinko Power Technology Co., Ltd. (&#8220;JinkoPower&#8221;) . Pursuant to the agreement, Sweihan HK will sell its 50% equity interest in Sweihan Solar Holding Company Limited (&#8220;Sweihan Holding&#8221;) to Jinko HK. Sweihan Holding holds a 40% equity interest in Sweihan PV Power Company PJSC (the &#8220;Project Company&#8221;), the operating entity of a 1,200 MW photovoltaic power plant &hellip; Continue reading \"JinkoSolar Sells Its Stake in Abu Dhabi Sweihan Power Station\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-27T12:00:17+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN05079&amp;sd=2020-11-27","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"JinkoSolar Sells Its Stake in Abu Dhabi Sweihan Power Station","datePublished":"2020-11-27T12:00:17+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\/"},"wordCount":681,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN05079&amp;sd=2020-11-27","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/jinkosolar-sells-its-stake-in-abu-dhabi-sweihan-power-station\/","name":"JinkoSolar Sells Its Stake in Abu Dhabi Sweihan Power Station - 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