JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), a global leader in the PV industry, was invited to attend the 9th BRICS Summit hosted in Xiamen, China from September 3rd to 5th. The theme of the summit is “BRICS: Stronger Partnership for a Brighter Future”. At the summit, JinkoSolar will provide insight on how the BRICS nations can fulfill their Paris Climate Agreement commitments through further cooperation in trade and in renewable energy development.
Paris agreement is deemed the “world’s greatest diplomatic success,” as it is the first comprehensive agreement that “brings all nations into a common cause to undertake ambitious efforts to combat climate change.” The success of the agreement rests on a strong consensus on the cause of global warming and a unified commitment to curb this devastating crisis. The record low bid of 2.42 cent per kWh by JinkoSolar for the milestone 1117MW Abu Dhabi solar project demonstrated that solar can undercut coal as cheapest energy source and is the most economically viable and scalable energy alternative to coal. Solar’s unique advantages of dispersed distribution and decentralized deployment will accelerate its adoption in more and more regions. Solar is the only feasible way to help all countries realize energy transformation and energy independence.
“Solar is not a conventional commodity, instead, it is a cross-boundary solution to addressing climate change and the antidote to save our earth. The setbacks to solar amidst growing anti-globalization will hurt our humanity in the long run. Given its social development nature, solar products should be treated with exception and free from nationalistic trade barriers. The acceleration and cheapening of efforts to replace coal-fired power plant will only be to the benefit of all 7 billion souls currently living on our mother earth. Humanity’s sustainability and survival should be the world’s upmost objective. Competing economic interests and man-made trade barriers will only discourage the world from coming together to tackle climate change, the most critical issues facing our planet today and the generations to come. Solar should be opt out of the endless trade war because the failure to develop solar threatens the future of all people, no matter of nationality,” said Dany Qian, Vice President of JinkoSolar.
Regarding the role New Development Bank in BRICS renewable energy development, Dany Qian commented that, “New Development Bank (NDB) was set up to fund infrastructure projects in BRICS countries and promote sustainable development. With the dramatic drop in cost, solar projects’ positive economic benefit and investment yields has been widely witnessed. We expect that in addition to direct investments in solar and other renewable energy projects, NDB can act as catalysts for attracting private funds into the sector through blended finance mechanisms that bridge the investment gap. Moreover, we hope that NDB will be a pioneer in launching and advancing green loans to finance clean energy projects, and initiate more innovative green financing tools.”
Given its world’ leading status, JinkoSolar has taken the lead in transitioning the BRICS nations towards a future-oriented and sustainable economy by driving down the cost of solar power, making the switch to renewable energy more economically viable, and increasing the feasibility of implementing the Paris Climate Agreement. JinkoSolar’s insights at the conference will also help power the sustainable development of the BRICS nations.