JinkoSolar and JinkoPower come together to build PV rooftop projects; CECEP Solar to issue A shares to raise RMB 6 billion.
JinkoSolar & JinkoPower team up for PV rooftop projects: Module supplier JinkoSolar announced that it plans to partner with JinkoPower and its subsidiaries to invest in the construction of 7 rooftop distributed photovoltaic power station projects and 1 energy storage project. This is being done to make full use of the available roof resources and to meet the demand for electricity in daily production and operations. As both companies get into an agreement and give top priority to the construction of the projects, the transactions between them will be about RMB 1.5 billion ($0.24 billion). In 2022, it is estimated that, JinkoSolar’s sales of modules to JinkoPower will not exceed RMB 184 million ($29.05 million), and the sales of energy storage systems will not exceed RMB 1.7 million ($0.27 million).
CECEP Solar to raise RMB 6 bn for PV power station projects: China Energy Conservation and Environmental Protection Group (CECEP) announced that its holding subsidiary CECEP Solar Energy will non-publicly issue A shares, and the funds raised will not exceed RMB 6 billion ($0.95 billion) (including this amount). The proceeds will be used for the construction of photovoltaic power station projects and to supplement working capital. Last year, CECEP Solar had raised RMB 6 billion for 1.12 GW PV power plants (see China PV News Snippets)