Shanghai, November 22, 2021, JinkoSolar Holding Co., Ltd, (“JinkoSolar” or the “Company”) (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today has announced its collaboration with CNPC through a landmark deal delivering its high efficiency Tiger Neo bifacial modules for a 200 MW solar farm. This will be the first ever solar-powered oilfield built by China’s oil giant, Chinese National Petroleum Corp (CNPC) in Yumen, China. It marks the beginning of a new, greener era for the oil and gas sector.
The Oil giant has already unveiled plans to partner with JinkoSolar to build its first megawatt scale solar farm in order to provide power for its Yumen oil production activities. This has opened up a huge potential market for bifacial modules, particularly N-Type Topcon modules which maximize yield from the rear side of the bifacial module due to a high bifacial factor, which is up to 85% or more. It is a well-known fact that most oil fields have sandy soil conditions which implies a high ground albedo making bifacial modules quite effective. Higher values of albedo increase the effective irradiation intensity on the back side. The bifacial factor in N-type Topcon technology is even higher and shall amplify power generation from the rear side, resulting in a substantial increase in produced energy.
Solar for oil is a win-win in terms of emission reduction and reducing the cost of producing oil, especially with much of the world’s ‘easy oil’ gone. But solar power that serves oilfields has to tolerate difficult environmental and weather conditions and projects have to be built to oilfield safety standards. We also need to overcome challenges around executing projects in remote locations. For instance, the projects need high power output modules (up to 600 watt) for over-all efficiency but with low current for safety considerations. The modules also need to be durable anti-salt, with anti-corrosion dual glass encapsulation, but should come with lighter weight in smarter sizes at the same time for easy installation. These underlying and significant factors are steering investments towards producing green power from n-type Topcon bifacial technology to meet the specific needs of the oil and gas industry.
The future of n-type Topcon bifacial solar technology is promising, and more for powering oil production facilities. “Looking further into the future, as n type Topcon bifacial solar modules continue to scale up in production, and the engineering and build processes grow more efficient, costs will continue to fall, making n-type solution a strong choice for any commercial endeavor, including helping build a greener future for oil production,” said Dany Qian, VP of JinkoSolar.
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About JinkoSolar Holding Co., Ltd.
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 China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 27 GW for mono wafers, 12 GW for solar cells, and 31 GW for solar modules, as of June 30, 2021.
JinkoSolar has 9 productions facilities globally, 22overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United States, Mexico, Brazil, Chile, Australia, Portugal, Canada, Malaysia, UAE, Hong Kong, Denmark, and global sales teams in China, United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi Arabia, Tunisia, Morocco, South Africa, Costa Rica, Colombia, Panama, Kazakhstan, Malaysia, Myanmar, Sri Lanka, Thailand, Vietnam, Poland and Argentina, as of June 30, 2021.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" 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 "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company'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'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.
For investor and media inquiries, please contact:
In China:
Ms. Ripple Zhang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3105
Email: pr@jinkosolar.com
