JinkoSolar Holding Co., Ltd.
) has completed the supply of 5 megawatt (MW) modules to Sunkon
Energy (P) Ltd's photovoltaic ("PV") solar project. Located in
Gujarat, India, Sunkon Energy develops, finances, constructs,
owns, and operates utility-scale solar PV power plants.
Spread over a span of 80,000 square meters, the solar project has
installed 17,886 JinkoSolar poly-crystalline modules. On an
annual basis, the project is expected to produce 8,030 MW hour of
electricity and reduce CO2 emission by 7,882 tons.
The company has spread its operations in the Asian, European and
African markets. Only last month, JinkoSolar entered into an
agreement with a well-recognized solar project developer in South
Africa. Per the terms of the agreement, JinkoSolar will supply
high-efficiency solar panels totaling 115 MW for two projects in
In Mar 2013, JinkoSolar opened a sales office in Tokyo, Japan
to capitalize on the increasing opportunities of providing clean
and sustainable energy solutions to the country.
JA SOLAR HOLDGS (JASO): Free Stock Analysis
JINKOSOLAR HLDG (JKS): Free Stock Analysis
SUNTECH PWR HLD (STP): Free Stock Analysis
TRINA SOLAR LTD (TSL): Free Stock Analysis
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Also, with the objective to expand and strengthen the company's
Chinese operations, it entered into an agreement with China
Development Bank for a 15-year loan worth approximately $58
million (RMB360 million) in April.
However, international expansion for this Chinese solar
manufacturing company is no longer an easy task. Indeed,
increasing order flows do not sufficiently offset the headwind
from anti-dumping duties in Europe as well as the U.S. Beginning
Jun 6, 2013, the European Commission is planning to impose
anti-dumping duties on 47% of Chinese solar imports.
In 2012, the U.S. Department of Commerce (DoC) implemented
anti-dumping duties of effectively 25.96% and countervailing
duties of 15.24%. The U.S. DoC rolled out these tariffs to
tighten supply of Chinese solar-products in the U.S. and
simultaneously encourage local players to tap the growing
renewable domestic market. These steps have made the North
American solar power market increasingly competitive for the
Chinese solar power product manufacturers.
Therefore, like its peer
Suntech Power Holdings Co. Ltd.
), the company is also subject to anti-dumping and countervailing
duties. Given the negative dynamics, the company presently
retains a short-term Zacks Rank #5 (Strong Sell).
On Jun 7, 2013, the company is expected to release its first
quarter 2013 earnings results. The Zacks Consensus Estimate for
the quarter is currently at a loss of $1.66 per share.
However, stocks to look out for in the solar space are
Trina Solar Limited
JA Solar Holdings Co., Ltd.
), both with a Zacks Rank #2 (Buy).