Chinese solar photovoltaic (PV) power product manufacturer JinkoSolar Holding Co., Ltd. (JKS - Free Report) has delivered 304 kilowatts (kW) high-efficient solar PV modules for a project in South Africa.
Johannesburg-based roof-mounted PV Solar plant was built by the German firm Soventix GmbH. Over 1,200 units of PV modules have provision to generate roughly 443,840 Kilowatt-hour (kWh) of electricity annually and reduce emission of carbon dioxide by 72 tons per year.
JinkoSolar has a longstanding relationship with the South African firms. In Apr 2013, the company entered into an agreement with a solar project developer to supply a total of 115 megawatts (MW) of high-efficient solar panels.
Earlier, the Chinese solar product manufacturers generated major chunk of their revenues from the U.S. market. Currently, the U.S. government in a move to encourage domestic players levied countervailing duties of 15.24% and anti-dumping duties of effectively 25.96% on Chinese solar products. These initiatives will take a severe toll on the businesses of the Chinese solar power product manufacturers in North America.
U.S. solar markets are gradually becoming less lucrative for the Chinese solar module manufacturers. Currently, most of the Chinese players are expanding their footprint in African, Asian and Middle East markets.
In Jun 2013, JinkoSolar supplied high-efficient solar PV modules for the first private solar park in India. The modules have a total electric generation capacity of 25.8 MW. Other companies that are also in the geographical expansion race are Canadian Solar Inc. (CSIQ - Free Report) , LDK Solar Co. Ltd. and ReneSola Ltd. (SOL - Free Report) .
Shangrao, China-based JinkoSolar engages in designing, producing and marketing PV products in the Chinese and overseas markets. The company currently has a Zacks Rank #2 (Buy).