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JinkoSolar (JKS) Offers 122 MW Modules for Chilean Project

Zacks Equity Research
Updated

Leading supplier of solar products, JinkoSolar Holding Co., Ltd. JKS announced that it has supplied 122 megawatts (MW) of photovoltaic (PV) modules to Pattern Energy Group LP (Pattern Development), for the Conejo solar project in Chile. U.S.-based independent power producer, Pattern Development, is a joint owner of the project. The project is expected to be complete in the second half of 2016.
 

Conejo is one of the largest PV projects in Chile. The project has already secured a 22-year power purchase agreement from Minera Los Pelambres, an affiliate of Antofagasta Minerals. Under this agreement, upon completion, the project will fulfill 65% of the electricity requirement of the Los Pelambres.
 

Situated in the Antofagasta region in Chile, the project will be connected to the Sistema Interconectado Central transmission system.
 

Thanks to its high-quality modules, JinkoSolar Holding keeps on receiving international contracts. Last month, it won three projects, totaling 188 MW alternative current (MWac), in Mexico’s first long-term electricity auction, marking its foray into the country. In China too, the company has received an order to supply 49 MW of solar modules to China Resources Power Investment Company Limited for three solar PV plants. Going forward, JinkoSolar hopes to clinch similar projects in other emerging markets.

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Alternative sources of energy, particularly solar, have increasingly been gaining popularity, mainly due to their environment-friendly nature. This helps JinkoSolar to clinch lucrative deals and boost its top line even going ahead.
 

Zacks Rank & Key Picks

 

JinkoSolar currently carries a Zacks Rank #2 (Buy).
 

Other favorably placed stocks in the same space include Hanwha Q CELLS Co., Ltd. HQCL, ReneSola Ltd. SOL and Yingli Green Energy Holding Co. Ltd. YGE. While both Hanwha and ReneSola sport a Zacks Rank #1 (Strong Buy), Yingli Green Energy carries a Zacks Rank #2 (Buy).
 

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RENESOLA LT-ADR (SOL): Free Stock Analysis Report
 
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