JinkoSolar Holding Co., Ltd.
) has clinched a deal with Lightsource Renewable Energy to
deliver 18.5 megawatt peak (MWp) of solar PV modules. Lightsource
Renewable Energy which is UK's largest solar energy generator and
asset operator will utilize these modules for a solar farm
project located in the country.
Demand for solar products in the U.K. is fast ramping up. In
August this year, Lightsource Renewable Energy entered into a
) for the supply of 69.5 megawatt (MW) of modules for U.K. solar
power plants. These modules will be utilized to power more than
23,000 consumers in the country. This will bring in more jobs,
more business opportunities and more international investment.
Earlier, Chinese solar product manufacturers earned a major part
of their revenues from the U.S. market. However, the U.S.
government has implemented several clauses to control import
volumes from China, while encouraging domestic players to promote
their solar products in the U.S. market.
These regulations have made the solar market more competitive
for Chinese solar product manufacturers operating in North
America. The U.S. solar markets are thus becoming less lucrative
for Chinese solar module manufacturers.
Therefore, Chinese companies are exploring new prospective
markets while strengthening their presence in China. The
companies are investing substantially to expand their footprint
in different geographies while continuing with their research and
development activities to upgrade technologies.
JINKOSOLAR HLDG (JKS): Free Stock Analysis
RENESOLA LT-ADR (SOL): Free Stock Analysis
TRINA SOLAR LTD (TSL): Free Stock Analysis
YINGLI GREEN EN (YGE): Free Stock Analysis
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JinkoSolar is busy expanding its footprint in the Asian, African
and European markets to offset the overall slowdown in U.S.
orders. In fact, the company has successfully won numerous orders
from these regions. On Sep 30, 2013, the company announced that
it will supply one-third of the solar modules required by State
Grid Corporation of China ("SGCC"), for a power project in Hebei
Recently, Chinese solar stocks like
Trina Solar Ltd
Yingli Green Energy Holding Co. Ltd.
) have seen their share prices rise as the Chinese government is
now offering local solar manufacturers a 50% value-added tax
rebate for sales taking place from Oct 2013 through Dec 2015.
JinkoSolar has also benefitted from the announcement. Driven by
the announcement and steady flow of contracts for its highly
efficient solar products, the company has experienced a 138.3%
surge in prices over the last three months. JinkoSolar
Holding Trina Solar and Yingli Green Energy Holding, all have a
short-term Zacks Rank #2 (Buy).