Chinese solar equipment producer JinkoSolar has entered into a strategy cooperation agreement with China Minsheng New Energy (CMNE) to supply 1GW of solar photovoltaics (PV) modules.
CMNE will give priority to JinkoSolar while buying solar PV modules in case of same terms and conditions of the agreement.
Specific terms of the agreement will, however, be subject to formal purchase contract which is yet to be signed by the two firms.
The solar PV modules will be supplied by JinkoSolar over two years until 2016.
As per the deal, JinkoSolar will deliver no less than 600 MW of solar modules this year.
JinkoSolar chairman Xiande Li said: "As a global leader in the PV industry, we believe this strategy cooperation agreement marks the beginning of a long-term partnership between two leaders in their respective industries.
"CMIC has targeted and deployed its capital in key industries that are in line with China’s national strategy since its establishment and one of their focus points of investment is the solar industry.
"We look forward to developing a long-term relationship with CMIC as we jointly committed to promote the development of the solar industry in China."
CMNE is a wholly owned power based subsidiary of China Minsheng Investment Corporation (CMIC).
CMIC plans to develop 20GW of power projects through CMNE over the next five years, which are expected to involve an investment of RMB200bn ($32.7bn).