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A signing ceremony for an agreement between Jinko Solar Co Ltd and Haining, a county-level city in Jiaxing, Zhejiang province, is held on Jan 3. [Photo/jiaxingren.com]

An agreement between Jinko Solar Co Ltd and Haining, a county-level city in Jiaxing, Zhejiang province, was signed on Jan 3, according to local media reports.

According to the agreement, two industrial projects of Jinko Solar, namely an energy storage integrated system and industrial supporting project, and 11 gigawatt high efficiency battery and 15GW high efficiency component projects, will be carried out in the city, receiving a total of 18.68 billion yuan ($2.72 billion) in investment.

Jinko Solar is a world-renowned and innovative solar energy technology enterprise focusing on the integrated research, development and manufacture of photovoltaic products and the provision of overall clean energy solutions.

The energy storage integrated system and industrial supporting project is expected to achieve an annual output value of 25 billion yuan and pay 600 million yuan in taxes after reaching full capacity.

The 11-GW high-efficiency battery and 15-GW high-efficiency component project is expected to achieve an annual output value of 30 billion yuan and pay 1 billion yuan in taxes after achieving its full capacity.