JinkoSolar Holdings in Malaysia

JinkoSolar Holdings, the leading Chinese solar photovoltaic module and cell manufacturer has announced its plans to set up a new production facility in Malaysia.

The plant will be set up at 500 MW of solar PV module and 450 MW cell manufacturing unit in Penang, Malaysia. The initial phase is expected of 100 MW will be in operation by this may. The company has signed a tenancy agreement with Nation gate Technology.

Few solar PV module manufacturers has been shifted to Malaysia over the last few months. Hanwha Q Cells had announced job cuts at its German production units and shifting of the manufacturing base from Europe to Malaysia earlier this year.

Malaysia’s Sustainable Energy Development Authority (SEDA) has decided to attain the target of 5% to 24% of electricity generated from renewable energy sources by 2015to 2050.The  solar power is expected to the most dominant renewable energy technology in the country’s future energy mix.

As per the new tariff regulations of 2011, small-scale solar power projects are eligible for tariff of up to $0.34 per kWh while larger projects with capacity of over 1 MW are eligible to receive $0.23-0.26 per kWh.

Malaysia represents an excellent market opportunity in the stream of utility-scale projects and solar PV power projects in both small as large scale industries to bypass the anti-dumping duties levied by Europe and the US.

Earlier this week, JinkoSolar also announced a finance leasing deal with China Development Bank Leasing Limited to develop 1 GW of solar PV capacity over the next 5 years.

Source from: http://cleantechnica.com/