On May 19, 2021, at the Investor & Media Conference for the 1st Anniversary of the Listing of Jinko Power, Jinko Power CEO Jin Rui proposed the "concentric circle" photovoltaic development model for the first time. “From photovoltaic power plant development to the entire photovoltaic industry chain, Jinko Power will enable photovoltaic + diverse application scenarios and explore emerging industries such as green power trading, carbon trading, and photovoltaic hydrogen production, to fulfill the zero-carbon vision with practical actions,” he said.
When it comes to the future development of photovoltaic power, Jin Rui believes that first of all the strategic position of photovoltaic power is beyond doubt. For the goal of peaking carbon emissions by 2030 and achieving carbon neutrality by 2060, photovoltaic power forms the major increment in future energy development, with a clear and stable market. Next, the industry’s development direction toward large-scale photovoltaic bases and "photovoltaic +" has been gradually formed. As the cost per kilowatt hour of photovoltaic power generation continues to fall, the scale of photovoltaic applications will continue to expand. Third, the carbon trading market and green power market are increasingly mature. Carbon trading and green power trading will become important measures to achieve the goal of peaking carbon emissions by 2030 and achieving carbon neutrality by 2060.
It is understood that Jinko Power's main lines of business are photovoltaic power plant development, construction and operation, photovoltaic power plant operation and maintenance, and smart energy. In the field of photovoltaic power plant development, construction and operation, Jinko Power won the most Pioneering Photovoltaic Projects in the third batch among private bidders. Its strong development capability is second to none in the industry. Jin Rui believes that the three directions for future photovoltaic power plant development are respectively 10-million-kilowatt bases in northeast, north, northwest and southwest China, 1-million-kilowatt bases across China, and ultra-high voltage delivery-based integration projects. Photovoltaic+ and distributed photovoltaic power with flexible applications are also maturing. According to Jin Rui, currently Jinko Power has more than 15GW of domestic photovoltaic power plants in reserve, including multi-energy and generation-grid-load-storage integration projects developed in cooperation with state-owned enterprises.
In the field of distributed photovoltaic power, Jinko Power rebuilt its distributed photovoltaic power team in early 2021. At present, Jinko Power holds 260 distributed photovoltaic power plants with a total scale of more than 800WM. It has rich experience in distributed photovoltaic power plant development and operation. In addition, marked by the world’s largest 2.1GW photovoltaic power plant in Abu Dhabi, Jinko Power is also making continuous efforts in the overseas photovoltaic power plant market, and its main business model is development and transfer.
When talking about how private photovoltaic power plants break the encirclement, Jin Rui believes that private enterprises represented by Jinko Power will keep a certain market share in the field of photovoltaic power plant development thanks to their resource advantages such as flexible development models and information channels.
In addition, Sha Jianghai, Vice President of Jinko Power, mentioned that the current photovoltaic power plant assets trading market is hot, and state-owned enterprises have a huge demand for power plants in stock. Short supply has turned power plant trading into a seller's market. “In other words, photovoltaic power plants in stock are traded at a premium.”For private photovoltaic developers and investors represented by Jinko Powe, how to make use of their unique advantages and realize their development capabilities will be critical for private players in the photovoltaic investment market in the future.
Moreover, during the 14th Five-Year Plan Period, Jinko Power will continue its strategic blueprint, including energy storage, hydrogen energy andthe construction of “wind-photovoltaic-storage" integrated energy bases.
The 14th Five-Year Plan Period is the first five years after the goal of achieving carbon neutrality by 2060 was set. Carbon neutralityand energy transition have been elevated to the national level. The photovoltaic industry has become a key field for competition between great powers.
As a major force in the energy revolution, photovoltaic power will keep the biggest cost advantage. Technological progress will continue to drive installation costs down rapidly. Photovoltaic power is also the field with the most industrial chain advantage in China and an important part of the 14th Five-Year Plan. As photovoltaic power steadily enters the era of purchasing power parity, it is believed that the future development space will be bigger, and the scope of application will continue to expand. Faced with a new round of opportunities, Jinko Power will actively respond to the state’s strategic call for new energy development, and continuously contribute benchmark power to building a clean, low-carbon, safe and efficient energy system for China.
In the past decade, Jinko Power has developed rapidly in both domestic and overseas markets.Up to now, the company has built nearly 350 photovoltaic power plants in more than 20 provinces in China, with over 3GW of grid-connected capacity in China, 3.4GW of capacity in overseas power plants under construction, nearly 4 billion KWH of annual power generation, and 20GW of photovoltaic power plant projects in reserve in both domestic and overseas markets.
In the future, Jinko Power will stick to the corporate mission of "changing the energy structure and assuming future responsibilities", actively embrace changes and challenges under the new situation, actively promote technological innovation for photovoltaic power generation, create long-term, stable and growing returns for shareholders, actively explore the "concentric circle" photovoltaic development model, expand the "renewable energy +" field, and contribute more Jinko solutions to further enhance the resilience of energy transition.
