JinkoSolar Holding Co., Ltd.
) has entered into an agreement with a well-recognized solar
project developer (the "Developer"). Per the terms of the
agreement, the company will supply high-efficiency solar panels
totaling 115 megawatts (MW) for two projects in South Africa.
Both the projects will be developed, designed and built by the
Developer. The first project will utilize 75 MW while the other
project will use 40 MW of solar panels. According to the
agreement, the Developer can also purchase additional solar
panels from JinkoSolar for other global projects over a
The abundance of solar energy, rapid economic growth and
governmental support in South Africa make JinkoSolar panels an
ideal product for the region. This is not the first time that
JinkoSolar is working in the country. In Dec 2012, JinkoSolar
entered into an agreement with WBHO-Building Energy (Pty) Ltd. to
provide 81 MW of photovoltaic (PV) modules for the solar PV park
project in Gamagara Local Municipality, Northern Cape Province,
Meanwhile, South Africa has been investing heavily in clean
energy to reduce carbon emissions and bolster electricity supply.
The country has set a target of generating 42% of electricity
from renewable energy by 2030. In Dec 2012,
Suntech Power Holdings Co., Ltd.
) entered into an agreement to deliver 100 MW of solar panels for
the two planned projects in South Africa undertaken by a
syndicate steered by Mainstream Renewable Power.
JinkoSolar's domestic market has bounced back after an
economic slowdown in China. China is becoming a major and fast
growing market for solar PV modules. Recently, JinkoSolar entered
into an agreement with China Three Gorges New Energy Corp. to
supply 600 MW of its high-efficiency solar panels. Moreover, like
JA Solar Holdings Co., Ltd.
Yingli Green Energy Holding Co. Ltd.
), JinkoSolar is trying to expand its market reach. In Oct 2012,
the company announced that it has supplied 5.7 MW of PV modules
for an 11.6 MW solar power station in Starkenberg, Thuringia,
However, these positives would be tempered by the stifling
trade barriers adopted by the U.S. which include countervailing
duties of 15.24% and anti-dumping duties of 25.96%. The company
presently retains a short-term Zacks Rank #3 (Hold).
JinkoSolar is a leading solar PV power product manufacturer
with production operations in Jiangxi and Zhejiang Provinces in
China and sales and marketing offices in Shanghai, China, Munich,
Germany, Bologna, Italy, Montpellier, France, Zug, Switzerland,
San Francisco, the United States, Queensland, Australia, Ontario,
Canada and Singapore.
JA SOLAR HOLDGS (JASO): Free Stock Analysis
JINKOSOLAR HLDG (JKS): Free Stock Analysis
SUNTECH PWR HLD (STP): Free Stock Analysis
YINGLI GREEN EN (YGE): Free Stock Analysis
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