Chinese solar products supplier JinkoSolar Holding Co Ltd (NYSE:JKS) said Wednesday it has won power purchase agreements (PPAs) for 188 MW of photovoltaic (PV) parks in Mexico in the auction concluded two weeks ago.
More specifically, the company has secured the right to sign with state-owned Comision Federal de Electricidad (CFE) three separate 15-year power supply contracts for over 500 GWh per year in total. The Federal Electricity Commission will also acquire the corresponding clean energy certificates (CEL) for a 20-year period.
JinkoSolar will be in charge of developing and constructing the PV parks. The firm will build two facilities in the state of Yucatan and one in Jalisco.
Completion of the PV plants is scheduled for mid-2018. Their output is estimated to be enough to offset approximately 200,000 tonnes of carbon dioxide (CO2) emissions annually.
“We look forward to leveraging this win to further increase our growth momentum in Mexico and other emerging solar markets,” chairman Xiande Li noted.
Mexico's first long-term electricity auction since the implementation of the energy reforms in the country resulted in 1.38 TWh of annual wind and 4 TWh of annual solar power deals.