Success Cases - PV Energy Projects

Juan Rodríguez Benavides Business Development Manager Jinko Solar – Central America, Caribbean & Colombia

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Agenda

Jinko Solar – Company Overview1

Bankability2

What makes a PV Project Successful3

Success Cases4

Jinko Solar - Overview

Vision：Optimize energy portfolio, and take responsibility of enabling a sustainable future.

Mission:Provide one-stop solution of clean energy and become industry leader.

Capacity

6,6 GWDelivered

worldwide

14GWRevenue

>2,5 Billion $

Company Overview

according to Q12016 financial result

0,8GwDelivered

In LATAM

Listed in NYSE (JKS)

Top1 Solar Module Maker Worldwide

China Fortune 500 Company

5 factories

24 offices

15.000 employees

Sold in 70 countries

Industry CAGR

+36.7%

+12%

+20%

+6%

+72%

JKS CAGR

+70%

+52%

+63%

+25%

+98%

Year

2015

2014

2013

2012

2011

JKS market share

8.0%

6.8%

5.0%

3.7%

3.1%

Market Growth (Global Industry vs JinkoSolar)

注：基于2015年全球新增装机容量预估57GW

Scientists, Engineers in R&D

team

250+R&D annual investment

17 m US$

R&D center

Toppatents

300+

Co-op with renowned

institutes/universities

10+

Input

Technology- R&D Invest

2014-2016Smart Module

Dual-glass Module

1500V Module

Black poly Module

Mono perc tech

2013-2014Eagle PID Free series

Eagle+

2010-2012Standard Mono, Poly Module

48\60\72 cell

Technology – New Product Development

•25-year 80.7% power output warranty •12-year 90% power output warranty •10-year material & workmanship warranty• Positive Tolerance Service

PowerGuard provides quality assurance

Leading Warranty

Local PresenceProduction capacity as of Q2 2014

HeadQuarters and Operations Center is located in CHILE

Mexico: • Mexico City,• Monterrey and• Guadalajara

Central America Colombia & Caribbean: • Costa Rica• Honduras• El Salvador• Panama • Nicaragua• Colombia• Caribbean

Chile, Santiago

Brazil, Sao Paulo

Financial Performance

• JinKo was the first to return to profitability among listed companies in Q2 2013 and has continued this pattern throughout the year:• FY 2015 Gross margin: 20.3%• FY 2015 Net Income: $105.6 mln

Revenue – USD Million Gross Margin – USD Million

12001610

11701610

2480

847.8

2011 2012 2013 2014 2015 Q12016

187.2

360.64

237.51360.64

503.44

180.8

2011 2012 2013 2014 2015 Q12016

15.6% 4.8% 20.3% 22.4% 20.3% 21.3%

50.2

198

106.7 150.1 205.989

2011 2012 2013 2014 2015 Q12016

4.2% -25.7% 9.1% 9.3% 8.3% 10.5%

Operation Income – USD Million

What makes a PV project successful?

Several years ago, PV Energy was perceived as an expensive technology, used onlyby companies that were willing to use it for corporate responsibility, image, or forcommunities that had any other option. Today, PV Energy has an importantfinancial feasibility, and companies use it because their investments haveinteresting Internal Rates of Return.

• Natural Resource - Radiation. Although it is not strictly necessary to have highradiation levels to have a successful project, this is one of the factors that affectthe most the feasibility of PV Energy projects. In the case of Colombia, PVprojects are feasible in all the country, specially in the Caribbean coast wherehigh plant factors are found.

• Installer/Integrator. The installation execution is probably one of the mostimportant aspects of the success of a PV system. The experience of the installerand integrator will be crucial to build the project on time and with the desiredquality. Balance between low CAPEX and quality.

• Attractive Financing. It is important to have quality and on time financingin order to execute the project with attractive financial indicators and inthe deadlines established in the schedule.

• Incentives. Althought these are not necessary to have a successful project,the incentives increase the financial feasibility of the project.

• Components. Quality of the components providers is vital for thesuccess of the project. It is important to choose companies that willbe alive and available for the >25 years the project will be operating.Among the main criteria for choosing the providers there is:

• Healthy Financials (Public)• High Quality• Local Presence and service• Certifications• Reasonable Price• Continuous R&D• Integrity & Long Term relationships

• Reliable selling price. One of the most important factor thatinfluences the project financial indicators is of course the energyselling price. The higher the certainty, the time frame, of the sellingprice, the most confortable the financing entities will be. It will alsobe important to know that the entity buying the energy will be therefor the time frame of the contract.

• Warranty. PV projects have a long lifetime, which is why it is strictlynecessary to have a quality warranty. In the case of Jinko Solar, weprovide a 10 year product warranty and 25 years of performance linearwarranty.

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New technology product2

Performance guarantee3

Financial stability / Bankability4

Main Factors to consider for a PV Project module provider

Local support5

Price6

MWQuality production1

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Main Factors to consider for a PV project module manufacturer

MWQuality Production1

MFully automatic production lines1

MQuality control of production processes2

Factories inspection by international well know consultant agency3

MFactory inspection during the production 4

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Main Factors to consider for a PV project module manufacturer

MWNew technology product2

MPID free1

MDual Glass – 30 years warranty 2

MPERC cell technologies3

M1500 volt system 4

MSmart modules with optimizer5

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Main Factors to consider for a large scale PV Project module manufacturer

MWPerformance Warranty3

M25 years linear warranty performances energy production – 30 for dualglass1

MPower guard 2

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Main Factors to consider for a PV project

MWFinancial stability -Bankability4

MBankability of the manufactures – list of the bank which have finance projects1

MFinancial statement 2

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Main Factors to consider for a PV project module manufacturer

MWLocal Support5

MTechnical team to answer quickly and faster1

MLogistic team2

MSales Manager3

MPre sales and post sales support4

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Main Factors to consider for a PV Project Module manufacturer

MWPrice6

MPower class1

MTypology of modules2

MDelivery timing3

Mincoterms4

Success Case: Lalackama Project in Chile

JinkoSolar supplied 60MW for Lalackama project in Chile. One of the biggest and most important projects in the region, built by Enel Green Power. the plant will be capable of generating up to 160GWh per year, equivalent to the electricity needs of about 90,000 Chilean households. Completed in Dic2014, with a cost of $110MM.

Success Case: EMSULA – San Pedro Sula

JinkoSolar supplied 3 MW of PV modules for the largest solar system on the roof of Latin America, San Pedro Sula. Financed by Inter-American Development Bank, the auto-consumption project is one of the most important success cases in the region.

Success Case: El Zamorano - Honduras

1MWp Project for Escuela Agrícola El Zamorano, Honduras. Largest PV Plant for an University in Latin America.

Success Case: Na Lakalu – Costa Rica

187kWp for Nalakalu Furniture Factory in Palmares, Alajuela, Costa Rica. Financed by Banco Promerica.

Success Case: Ad Astra Rocket

77kWp for Ad Astra Rocket Company, manufacturing a Plasma Space Rocket in collaboration with NASA at Liberia, Guanacaste, Costa Rica.

Success Case: Colombia – Tax Incentives

The first project with the approval of the Energy Ministry in order to get the new tax incentives is using Jinko Solar Modules. Our modules meet all the RETIE requirements, we support our clients in the importing process and will

Colombian PV Market Potential

• There is an approximate of 17 MW of installed capacity in Colombia adding allthe small systems in the country, this number will increase significantly in thenext months.

• Clean source of energy, which helps achieve COP21 objectives.• Attractive but responsible incentives are being defined by the government,

this will boost the market in the next months.• Solar energy will complement energy shortages due to the rain and oil price

uncertainty.• Non Interconnected areas will be probably benefit the most our of solar

energy since prices are extremely high in this areas.• Even though electricity prices are not that high in Colombia compared with

other countries, PV energy is making has financial feasibility.• Resource availability, Colombia has an excellent solar irradiation, with areas

with more than 2000 kWh/m2.

Thank You！

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