JinkoSolar Holding Co., Ltd. JKS recently declared that its affiliate has supplied ultra-high efficiency Cheetah HC 60 solar modules to Danish solar developer, Obton. The modules, with generating capacity of 40 megawatts (MW), were installed in Netherland’s Almelo project during the summer of 2019. JinkoSolar’s Solar Modules
Courtesy of its R&D team, JinkoSolar has been consistently improving the conversion efficiency of its solar modules. Notably, its Cheetah HC 60 modules come with higher conversion efficiency of up to 20.45%, while its advanced glass and cell surface textured design ensure excellent performance in low-light environment.
Backed by these high-efficiency modules, JinkoSolar is reducing the cost of utility scale solar projects. This, in turn, is making solar energy projects more competitive against the likes of conventional energy source power projects. As a result, the company is witnessing solid demand for these modules across the globe from commercial as well as residential customers. The latest news release of its solar modules supply to Obton is a further testament to the growing demand for its modules.
While Cheetah series have become the industry standard, recently the company launched a new high efficiency Tiger module that introduced Tiling Ribbon technology to the market for the first time. This is another technical advancement on JinkoSolar’s part in innovating state-of-the-art solar module technology. Such innovations should further boost demand for the company’s modules in days ahead.
Solar Market Prospects in Netherlands
In tandem with other European nations, the Netherlands is taking notable initiatives to cut down carbon emissions and promote renewable energy, with solar power in focus. Notably, per a report released in April 2019, the Dutch Central Agency for Statistics’ data revealed new PV additions of 1.5 GW in 2018, which came in 200 MW more than predicted.
Being a prominent solar module supplier, JinkoSolar thus boasts ample opportunity to strengthen its footprint in the booming Dutch solar market. To this end, the company’s management expects distributed installations to grow significantly across Northern Europe, which means increased installations can be witnessed in the Netherlands that lies in North-Western Europe.
Impressively, JinkoSolar’s Cheetah HC and Cheetah Plus products already accounts for a significant share of the Dutch PV market, so far in 2019. Considering the growth opportunities in the Dutch solar market, we remain optimistic about JinkoSolar’s profit earning capability from this space.
Global Solar Market Growth Boosts Shipment
Low cost of installations and increasing corporate investments have been bolstering the global solar market rapidly over the past few years. According to figures released by the trade body SolarPower Europe, global solar PV growth in 2018 was 1.4 GW more than it had forecasted earlier. Similar growth trends are observable in 2019 as well. Such solar growth has been boosting solar module shipments across the globe.
For instance, in June, JinkoSolar announced that it has supplied 351 MW of solar modules to Power Construction Corporation of China. In the same month, Canadian Solar (
CSIQ Quick Quote CSIQ - Free Report) signed a contract to supply 500 MW solar modules to Solarcentury's projects — Cabrera and Talayuela Solar — in Spain.
In September, First Solar
FSLR signed a multi-year deal to supply more than 1.7 gigawatts (GW) of high-performance Series 6 photovoltaic (PV) thin-film solar modules to Intersect Power — a U.S.-based utility-scale renewable energy developer.
We may expect similar shipment trends in the coming days as well, considering the impressive growth estimates for the global solar market.
In a year's time, shares of JinkoSolar have surged 55.3% compared with the
industry’s 30% rally. Zacks Rank & A Key Pick
JinkoSolar currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the same
sector is Shell Midstream Partners, L.P. SHLX, which sports a Zacks Rank #1 (Strong Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here
Shell Midstream surpassed the Zacks Consensus Estimate in trailing four quarters, with an average positive earnings surprise of 2.16%. The company boasts a solid long-term earnings growth rate of 1%.
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