JinkoSolar Power, a subsidiary of China-based solar PV company JinkoSolar (JKS), has signed an agreement with the Government of Shicheng County, Ganzhou City, Jiangxi Province of China, to develop a 200MW PV power plant over a period of four years.

The project development would cost around CNY1.6bn ($261.3m).

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The PV power plant will be constructed in four phases and located in Zhuokeng and Fengshan villages in Shicheng County.

The project is also likely to receive a national subsidy of CNY1/kWh and provincial subsidy of CNY0.2/kWh for a 20-year period."

"This project will enable us to expand our clean energy generation capacities and grow shareholders’ value."

It is expected to produce around 240 million kWh of electricity per year, along with annual revenues of CNY288m ($47m).

JinkoSolar chairman Xiande Li said: "We are pleased to sign this significant PV project development agreement with the government of Shicheng County as we further expand our pipeline in Jiangxi Province.

"We believe this project will be a great success as we leverage the local government’s support and willingness to build clean energy infrastructure and our high-quality PV products and industry leading capabilities in PV power plant development.

"This project will enable us to expand our clean energy generation capacities and grow shareholders’ value."

In August, the firm had secured a deal to develop 100MW of solar project at Jiangxi Province in Hengfeng County.