UPDATE: JinkoSolar Soars 23%; to Supply 81 MW WBHO-Building Energy in South Africa

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Shares of JinkoSolar ( JKS ) are up 21.3% to $6.42 after the company announced that it signed a contract to supply WBHO-Building Energy (WBHO-BE) with 81 MW of photovoltaic (PV) modules for a solar PV park project in South Africa.

The project will be developed, designed, constructed and commissioned by WBHO- BE and is, so far, the largest project in African Continent and one of the first approved under the South African government's Renewable Energy Program.

JinkoSolar will deliver a total of 344,540 PV high quality solar panels for the project, which is expected to generate approximately 146 GWh of power equivalent to supply electricity to 12,000 households and to reduce carbon emissions by about 145,800 tons annually.

The project will be the largest individual PV solar plants in South Africa upon its completion. Shipments starts in Q1 2013 and all PV panels will have been shipped before end of Q4, 2013.

JKS is trading within a 52-week range of $2.00 - $10.20. Shares have increased 21% in the last 12 months.

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