JinkoSolar bags largest solar panel supply deal in history
The coming together of JinkoSolar and NextEra Energy will not only enhance their position in the global solar industry, but, in the long run, will lead to lower cost of production and, subsequently, greater customer demand for stable and reasonable energy prices.
JinkoSolar announced that, as the world’s largest solar module manufacturer, it has signed a 2750MW solar panel supply deal with NextEra Energy, the world’s most valuable utility company. The deal, at 2750 MW, is the largest single solar panel supply deal in history.
With a market capitalisation of over $73bn, NextEra Energy operates approximately 47,000 megawatts of net generating capacity and employs approximately 14,000 people in 33 states through Canada and the United States.
NextEra Energy is a global leader in renewable energy and has plans to own 7000 MW of solar and wind generation capacity between 2017 and 2020.
“As NextEra Energy continues to invest heavily in new solar projects across the country, we are thrilled to have the opportunity to buy cost-effective, reliable solar panels made in America. JinkoSolar shares our commitment to delivering affordable clean energy solutions” said Jim Robo, NextEra Energy’s chairman and CEO.
On the other hand, JinkoSolar provides a combination of state-of-the-art solar technology, high quality products, localized service, and supreme project bankability.
The coming together of two major renewable companies will not only enhance their position in the global solar industry, but, in the long run, will lead to lower cost of production and, subsequently, greater customer demand for stable and reasonable energy prices.
The partnership between the two leaders of the industry enables highly visible synergies and creates a win-win situation, enabling the continued sustainable growth of both firms.
“To us, this partnership with NextEra is not about the large quantity of the order, but rather the long term relationship we will establish with an important partner. JinkoSolar’s products and technologies have withstood the test of time,” said JinkoSolar CEO Kangping Chen.
The company has also realised continued growth. After becoming the world’s largest solar module manufacturer with 6.65 GW of modules shipments in 2016, it has continued to grow throughout 2017 by achieving a growth rate of 47% and shipping over 9.7GW of modules.
“Considering that the US is one of our most important markets, the company highly values the development of long-term strategic partnerships in the US. This partnership with NextEra is built upon a mutually shared vision and management belief in sustainable development,” said Chen.
He noted that the high bankability of the JinkoSolar products and superior services as well as the company’s reputation in the industry, provide a sturdy foundation for the new partnership.