All posts from Zacks
Zacks in Our Research. Your Success.,

JinkoSolar Holding (JKS) Supplies Solar Modules to Gransolar

Solar module manufacturer, JinkoSolar Holding Co., Ltd. JKS sold photovoltaic (PV) modules to Gransolar, a renewable energy construction company for a PV project in Mexico. However, other details of the agreement were kept under wraps.

Details of the Agreement

Per the agreement, JinkoSolar supplied high efficiency solar modules worth 35.46 Megawatt (MW) that will be installed in a solar plant of Mexico’s northern state of Chihuahua, located in Camargo. Gransolar had also previously announced that the plant, which has a capacity of 35.4 MW, obtained the Commercial Operation Date on Apr 6, 2017.

Recent Solar Projects

Last month, the company also finished supplying 30 MW (alternate current) ac of PV modules for powering two solar projects in Virginia to Hecate Energy. These will be used to power 10 MW ac Clarke County project located in Double Tollgate, VA. A part phase of this project came online in the month of June, with the remainder anticipated to get connected in 2019. Additionally, the company will provide 20 MW ac for the Cherrydale project that is currently under construction.

Our View

With the Trump administration being no more a part of the Paris Agreement, other nations will gain increased opportunities in the leading clean energy space. Naturally other solar module manufacturers are trying to capitalize the unearthed opportunities in the solar power markets, outside the U.S. Notably, JinkoSolar already enjoys a widespread customer base across the non-U.S. nations like China, Japan, Chile, South Africa, India, Mexico, Brazil, Italy, Spain, France, Belgium, to name a few. Being a prominent entity in the global solar industry, JinkoSolar’s solar modules are being supplied to a wide network of customers.

Other companies in the solar industry, like solar module manufacturer, Canadian Solar Inc. CSIQ are also expanding presence globally. It recently entered into a partnership to supply modules for the Pirapora III project from its 380 MWp modules factory established in Brazil to support the local market. The project is expected to come online in the fourth quarter of 2017.

Another company, SunPower Corporation SPWR, a subsidiary of Total S.A. TOT, signed a contract with Oklahoma Gas & Electric Company (OG&E) last month. Per the contract, the solar panels manufacturer will construct a 10 MW solar photovoltaic (PV) power plant in Covington, OK.

With growing concerns regarding climatic changes, many countries are currently focusing on solar and wind generation. Consequently, solar power is expected to become one of the major energy sources in coming days. In fact, the U.S solar companies are already serving customers globally as the big economies are willing to utilize the power of sun.

According to a U.S. Energy Information Administration (“EIA”) report, the utility-scale solar power capacity will continue to grow to 31 (Gigawatt) GW at 2018 end from 21 GW at the end of 2016.

Zacks' 10-Minute Stock-Picking Secret

Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.

But here's something even more remarkable: You can master this proven system without going to a single class or seminar. And then you can apply it to your portfolio in as little as 10 minutes a month.

Learn the secret >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
TotalFinaElf, S.A. (TOT): Free Stock Analysis Report
JinkoSolar Holding Company Limited (JKS): Free Stock Analysis Report
SunPower Corporation (SPWR): Free Stock Analysis Report
Canadian Solar Inc. (CSIQ): Free Stock Analysis Report
To read this article on click here.
Zacks Investment Research