In May 31 trading, shares of solar panel producer JinkoSolar Holding Co., Ltd. (NYSE: JKS) climbed 3.95 percent to $61.27. The goal was to get into the lucrative South American market, where JKS has plenty of potential to expand.
Aldo Solar, a South American firm, has formed a distribution partnership with JinkoSolar. Aldo Solar will be permitted to sell 600 MW of new JinkoSolar Tiger Neo solar panels as part of the arrangement. These are big solar panels with a power of around 600 W and a 22 percent efficiency. They’re ideal for large power plants and single-family houses since they’re less expensive to build and need fewer micro inverters.
For the new JinkoSolar panels, Brazil will be the first regional market. From 2022 to 2027, the country’s solar power CAGR is predicted to be 5.5 percent. JinkoSolar Holding Co., Ltd. (JKS) has previously reached a deal with Aldo Solar in 2021 to deliver about 4 million panels by 2022. Solar energy has large development potential in the region, which has expanded as fossil fuel costs have risen.
In general, favorable conditions have evolved in the worldwide solar energy industry, which is expected to increase at a rate of around 14% per year over the next five years.
To take advantage of this expansion, companies are scrambling to expand their presence in regional marketplaces. The volume of shipping is already increasing. In the first quarter, Canadian Solar Inc. (NASDAQ: CSIQ) supplied more than 3.6 GW of solar panels to clients, up 42% year over year.
Consequently, Canadian Solar anticipates a profit increase of 170 percent year over year this year. SolarEdge anticipates a 28 percent long-term profit growth rate. In comparison to 2021, solar business First Solar Inc. (NASDAQ: FSLR) boosted 6 Series panel manufacturing by 19%.
The stock of JinkoSolar Holding Co. Ltd. (NYSE: JKS) has up 3.52 percent in the previous week but is up 12.26 percent over the last quarter. Going back further, the stock’s price has increased by about 14.35 percent in the previous six months but is up 30.07 percent year-to-date.