JinkoSolar to Supply PV Modules to Hybrid Energy Project - Analyst Blog
Solar photovoltaic (“PV”) modules manufacturer JinkoSolar Holding Co., Ltd. JKS announced that it will supply PV modules to Swinerton Renewable Energy. The 75 megawatt direct current (MWdc) modules are required for the Red Horse 2 Wind and Solar project in Cochise, AZ.
In Aug 2014, this project was acquired by an affiliate of D. E. Shaw Renewable Investments, L.L.C. (DESRI), a member of D. E. Shaw group, which, together with its affiliates, acquires long-term contracted renewable energy assets in North America.
Enough to power 13,500 homes, the project will employ 248,750 of JinkoSolar's high-efficient 72-cell polycrystalline solar panels.
Swinerton Renewable Energy will develop and construct the project while providing the ongoing operations and maintenance services to this hybrid wind and solar project.
These contracts boost JinkoSolar’s expanding list of projects in the U.S. In 2014, the company supplied over 400 MW of modules to U.S.-based projects. Year-to-date, the company has secured contracts to supply about 750 MW for U.S. projects.
In spite of the U.S. Department of Commerce (“DoC”) imposing anti-dumping duty rates on the import of Chinese solar panels, JinkoSolar is successfully evading the hefty levies by manufacturing solar cells for U.S. exports in Malaysia. This explains the company’s unhindered contracts from the U.S. based projects.
Through a joint pact with the U.S., China aims to increase renewable energy generation to 20% by 2030, with a target of 100 gigawatt (“GW”) PV power to be achieved by 2020. This has made U.S. the second largest market for Chinese solar module manufacturers like JinkoSolar, Yingli Green Energy Holding Co. Ltd. YGE and Trina Solar Ltd. TSL, following China.
Another Chinese player in this industry, JA Solar Holdings Co., Ltd. JASO, secured a contract to supply 35.1 MW solar modules to The Guatemala solar farm in the U.S. This facility ranks as the largest in Central America and the second largest in the Latin American region. The company had earlier shipped 59.7 MW of solar modules for the first phase of the same project in 2014 (Read: JA Solar Supplies Modules to Phase II of Guatemala Project).
JinkoSolar Holding currently carries a Zacks Rank #4 (Sell).
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