Chinese solar photovoltaic (:PV) power product manufacturer JinkoSolar Holding Co., Ltd. (JKS) has announced to deliver 23 megawatts (MW) solar PV modules to two U.S. companies. The deliveries are expected to be completed during the fourth quarter of 2013.
JinkoSolar will provide 72 cells of PV modules, each having a capacity of 300 watts, to a U.S. engineering and construction company, Swinerton Builders. Swinerton will utilize these modules for a ground-mounted solar plant of Westland Solar Farms, LLC, which is an electric utility provider. Subsequently, Westland Solar Farms will supply the output to PG&E Corporation (PCG).
JinkoSolar will offer remaining PV modules to a clean energy finance and management company, Clenera.
JinkoSolar has a strong presence in the U.S. market. The company has developed good rapport with the U.S. firms due to the high standard of its product and service. In Jul 2013, the company received an order to supply 39 MW high-efficiency PV modules to an engineering and project management company, AMEC, for three projects in the U.S.
Currently, most of the Chinese solar module manufacturers are curtailing down their business with the U.S. firms due to the implementation of countervailing duties and anti-dumping duties on the Chinese solar products by the U.S. government. However, this factor does not impact JinkoSolar’s business and the company continues to get orders from several U.S. companies at regular intervals.
JinkoSolar is also expanding its footprint in the Asian, African and European markets to offset the overall slowdown in the U.S. solar products orders. The company has successfully bagged numerous orders from those regions. In Jul 2013, JinkoSolar delivered 304 kilowatts of high-efficient solar PV modules for a project in South Africa.
We appreciate JinkoSolar’s continuous effort towards maintaining its existing position in the U.S., while searching for new markets. These initiatives will subsequently enable the company to get more orders and improve its future revenues.
Shangrao, China-based JinkoSolar engages in designing, producing and marketing PV products in the Chinese and overseas markets.
JinkoSolar currently has a Zacks Rank #2 (Buy). Other solar module manufacturers which are worth considering are SunPower Corp. (SPWR) with a Zacks Rank #1 (Strong Buy) and ReneSola Ltd. (SOL) with a Zacks Rank #2 (Buy).
More From Zacks.com
- Personal Investing Ideas & Strategies
- Finance Trading