BP signs MoU with Chinese solar energy company Jinko Technology

BP has signed a memorandum of understanding with Jinko Electric Power Technology Co., Ltd. (Jinko Technology), one of China’s leading developers of solar energy projects, to provide decarbonised comprehensive energy solutions and services to Chinese customers.

The cooperation plan of the two parties is to develop innovative and comprehensive energy solutions business for the application scenarios of large commercial buildings and industrial facilities in China, and provide customers with digital tools for renewable energy and integrated energy solutions. This is another step for BP to continue to develop the low-carbon power, storage and digital energy value chain.

China is the world’s largest and fastest growing renewable energy market. The Chinese government plans to achieve the target of 50% of non-fossil energy power generation by 2030. JinkoSolar is one of the largest private solar project developers in China. At the same time, JinkoSolar has been a leading global manufacturer of solar installed capacity for the past four years.

BP and JinkoSolar will combine their expertise and operational experience in solar energy development, distributed power generation resources and digital technology, and provide customers with energy solutions to help achieve decarbonisation and optimize energy management.

The Memorandum of Understanding was signed in Shanghai on July 6, signed by BP China President, BP Group’s Senior Vice President of Regional Affairs and Urban Low-Carbon Solutions Yang Shixu and Jinkotech Chairman Li Xiande. BP Group Natural Gas and Low-Carbon Energy Executive Deputy President Dev Sanyal witnessed with other leaders from both parties.

“We are very pleased to establish a long-term and close partnership with BP to jointly explore potential cooperation opportunities in the field of renewable energy and comprehensive energy service best practices. The integration of resources and the complementarity of strengths together promote energy transformation and truly reshape the relationship between human society and energy,” Li said.

This partnership will further contribute to the realization of BP’s net zero vision, that is, “committed to becoming a net zero enterprise by 2050 or before, and will help the world move towards net zero.” 

BP has been focusing on promoting clean, intelligent and decarbonised energy solutions in China. Recently, a series of investments have been made, including this year’s investment in China’s energy management expert R&B, the application of AI technology to the energy efficiency diagnosis and optimisation of large commercial buildings and industrial facilities, and the signing of an agreement with Didi in 2019 to jointly deploy China’s new energy vehicle charging network.

“China is the world’s largest and most leading solar energy market and one of the most important countries for BP to achieve a low-carbon vision. We look forward to working with JinkoSolar to develop renewable energy solutions together to further contribute to China’s energy transformation, environmental protection and ecological civilization construction,” said Yang.