JinkoSolar Holding Co. Ltd. (JKS), a solar energy company, signed a deal with California-based Premier Power Renewable Energy to supply 1.3 megawatts of multi-crystalline solar modules to the latter. The contract will be executed during the first quarter of 2011. Financial terms of the deal were not disclosed.
The agreement strengthens Chinese company JinkoSolar’s footing in the U.S. solar supply market. The company emphasizes in low-cost production of solar products with the help of vertically integrated manufacturing platform and upgraded technological equipments.
Premier Power, a leading photovoltaic system integrator, delivers both large and small scale solar power systems to customers in North America and Europe. Apart from expanding the company’s supplier portfolio of cost efficient manufactures, this deal will also brace up business ties between U.S. and China.
A spokesperson of JinkoSolar said the company remains highly optimistic regarding its collaboration with Premier Power. The company is confident that it will be able to capitalize on the upward trends of the U.S. market with a steady supply of efficient, affordable and reliable products at economical rates.
Based in the Jiangxi and Zhejiang Provinces, JinkoSolar is a fast-growing solar product manufacturer engaged in the production of high quality ingot, wafer, solar cell and solar module products. The company’s customer base spreads across China, Germany, Hong Kong, India, and Italy among other countries.
JinkoSolar, which faces competition from peers such as China Sunergy Co. Ltd. (CSUN) and JA Solar Holdings Co. Ltd. (JASO), currently retains a Zacks #3 Rank (which translates into short-term Hold rating).
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