JinkoSolar Supplies 34 MW of PV Modules for Chile Project - Analyst Blog
JinkoSolar Holding Co., Ltd. JKS announced that it has supplied solar photovoltaic (“PV”) modules with a capacity of 33.67 megawatts (“MW”) to Rijn Capital for a project in Chile. The modules will be used in the San Pedro III PV Plant Phase I project in the Antofagasta Region of northern Chile.
The solar panels were successfully connected to the grid in Apr 2015 and the project will utilize 110,400 JinkoSolar high-efficiency PV modules for producing approximately 100 gigawatt-hour of electricity per year.
Rijn Capital, a renewable energy company based in Chile, develops, acquires, builds and operates a portfolio of power generation and transmission facilities. It has a pipeline of nearly 500 MW of solar PV projects in Chile.
JinkoSolar is a global leader in the solar industry with a large consumer base spread across the globe. However, the U.S. Department of Commerce has imposed anti-dumping duties on the import of Chinese solar products. In order to evade the hefty levies on their U.S. exports, the company recently started operating from their novel cell & module manufacturing facility in Malaysia.
The company is well known for manufacturing high-quality solar PV modules. In recent times, it has secured contracts from multiple clients including one from the U.S (read more: JinkoSolar (JKS) to Offer 104-MW PV Modules to Swinerton).
JinkoSolar is set to supply its solar modules for various projects in China, Turkey and Honduras as well.
The U.S. Energy Information Administration projects that global electricity generation from renewable sources will account for nearly 25% of the total generation by 2040. Use of solar PV for non-residential applications is also expected to grow more than 20% in the next six years, especially in countries like India, China and Japan, as they are continually substituting conventional sources of energy with renewable sources, primarily solar. Apart from JinkoSolar, Canadian Solar Inc. CSIQ, ReneSola Ltd. SOL and Yingli Green Energy Holding Co. Ltd. YGE are trying to tap the growing global solar market.
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