Yesterday, Premier Power Renewable Energy, Inc. signed a supply agreement with JinkoSolar Co, Ltd. (NYSE: JKS). Under the terms of the agreement, JinkoSolar will supply Premier Power with 1.3 megawatts of multi-crystalline solar modules during the first quarter of 2011.
Premier Power of El Dorado Hills, CA is a provider of both large and small scale solar power systems, delivering to customers in North America and Europe, designing and deploying its solar electric systems. The agreement will let Premiere Power expand its portfolio to include JinkoSolar as its newest supplier.
JinkoSolar, noted for its low-cost operations, is based in the Jiangxi and Zhejiang Provinces in China. Their vertically integrated manufacturing platform will provide a more efficient production process to Premier Power that will shorten product development and production cycles. With a portfolio of 300 customers from China, Germany, Hong Kong, India, Italy and other countries, JinkoSolar primarily manufactures solar modules, solar cells and silicon wafers. The deal marks JinkoSolar’s first major supply contract with an American company.
“Premier Power has always sought to be an innovative leader in solar energy integration systems. We welcome JinkoSolar to our group of strategic suppliers, with whom we work closely on a continual basis to maximize performance and drive down costs,” said Dean Marks, chairman and chief executive officer of Premier Power Renewable Energy.
“We are excited to develop a long-term customer relationship with a leading global solar player like Premier Power,” said JinkoSolar’s Chairman of the Board of Directors, Mr. Xiande Li. “Our products are among the most efficient, affordable and reliable products available today. We’re pleased that we were selected by Premier Power for our first major supply agreement to the US market as we look to expand our geographic presence and capitalize on the growth of the U.S. solar market.”