Chinese solar photovoltaic (PV) power product manufacturer
Holding Co., Ltd.
) has entered into an agreement with Acciona, S.A. to deliver a
total of 274 megawatt-peak (MWp) solar PV modules. Acciona will
install these modules to its two projects in South Africa and
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Acciona, S.A., a Spanish organization, is engaged in construction
and management of renewable energy, infrastructure, water and
Per the agreement, JinkoSolar will provide 94MWp of
high-efficiency solar modules to Oakleaf Investment Holdings 86
(Proprietary) Limited, a joint-venture of ACCIONA and its South
African local partner. The delivery will start from Nov 2013 and
expected to be completed by Sep 2014. Oakleaf will use roughly
319,600 JinkoSolar PV modules for its solar farm in Northern Cape
Province, South Africa. These modules can generate roughly 206
Gigawatt-hour (GWh) of electricity annually and avoid emission of
carbon dioxide by 198,000 metric tons per year.
In another contact, JinkoSolar will provide 24.07 MWp of solar
modules to Acciona, S.A.'s subsidiary Acciona Energy Oceania. The
delivery will start from Oct 2013 and expected to be completed by
Dec 2013. Acciona Energy Oceania will install nearly 81,600
JinkoSolar PV modules at the Royalla PV Plant in the ACT
territory of Australia. These modules can provide power to 4,500
In addition, JinkoSolar will subsequently deliver 156MWp PV
modules to Acciona. It is subject to definitive supply
Previously, the Chinese solar product manufacturers generated
major portion of their revenues from the U.S. market. Currently,
the U.S. government is encouraging domestic players to promote
their solar products in the U.S. market and implemented several
clauses to control the import volumes from China. These
initiatives have made the solar market more competitive for the
Chinese solar power product manufacturers operating in North
U.S. solar markets are gradually becoming less lucrative for the
Chinese solar module manufacturers. Like its peers
Canadian Solar Inc.
LDK Solar Co. Ltd.
), JinkoSolar is currently expanding its footprint in the
emerging markets of Africa, Asia and Middle East.
Recently, JinkoSolar supplied high-efficient solar PV modules for
the first private solar park in India and another project in
South Africa. We believe strengthening of overseas footprint will
enable the company to offset stiff competition in the U.S.
Shangrao, China-based JinkoSolar engages in designing, producing
and marketing PV products in the Chinese and overseas markets.
The company currently has a Zacks Rank #2 (Buy).