(Yicai Global) June 22 -- Jinko Power Technology Co. has won the bid for a solar power plant in Spain, the company said yesterday.
The plant is Spain's first large independent photovoltaic power generation project open to global bidders following its energy reform. Also-ran bidders were Italian utility firm Enel, Spanish natural gas giant Gas Natural, Spanish PV project developer X Elio and another 27 world-leading power developers.
The tender for the PV project is part of Spain's energy reform, which has been progressing steadily as the country replaces its original subsidy system with a public tender system for electricity projects. Jinko Power stood out from the crowd due to its overall advantages in the development, financing, investment, construction, operation, maintenance, and cost control of overseas solar power plants.
The project lies in Alcala de Guadaira which lies on the plain 20 kilometers east of Seville. With an installed capacity of 182.5 megawatts, it can generate 356 million kilowatt-hours of electricity per year. Construction of the plant may finish as soon as late next year.
Jinko Power has inked a 20-year electricity supply agreement with Spanish buyer Comision Nacional de los Mercados y la Competencia (CNMC/National Markets and Competition Commission).
"We are confident about the prospects for a recovery in the European renewable energy market. The tender, which is Spain's first PV project tender open to global bidders [after its energy reform] delivers a strong signal of market improvements. The electricity fee payment mechanism of this project is guaranteed by the central government, while the local government will offer preferential tax policies," a director overseeing overseas project development at Jinko Power said.
Formed in 2011, Jinko Power is a world-leading independent PV power plant developer specializing in power asset development, construction, operation, maintenance and management of power plants, as well as power production and sales in the solar power sector.
Editor: Ben Armour