JinkoSolar Holding Co.—which just a month ago was awarded $1 billion in financing by the Guangdong Branch of the China Development Bank., representing a sure sign that the People’s Republic is optimistic about the outlook for the photovoltaic module producer—has been honored jointly by China Energy News (CEN) and the China Institute of Energy Economics Research (CIER).
Following a collaborative-assessment of nearly 1,000 renewable energy companies worldwide, CEN and CIER bestowed the title of “Most Promising Enterprise” on Pudong, Shangai-based JinkoSolar. With a long-term development strategy, superior product quality and industry-leading efficiency, JinkoSolar was identified as one of the companies with the highest potential in photovoltaic industry.
At the end of Q3 2012, the company announced total shipments for the preceding three months of 335.2 megawatts (MW) of solar product, representing a sequential increase over the 302.1 MW shipped during the second quarter.
“We are very pleased that JinkoSolar was recognized by one of the most authoritative institutions in the industry. Our business model focuses on long-term sustainable development in an effort to promote the application of solar power around the world. This has always been our vision and mission," commented Kangping Chen, CEO at JinkoSolar.
Following the funding announcement four weeks ago, JinkoSolar Chairman Li Xiande remarked, “We believe they chose Jinko because we have a healthy balance sheet and strong business development management in the downstream sector. The survivors will be the players who have the advantage in terms of technology, cost and branding. The biggest may not survive.”
JinkoSolar, the eighth-largest panel maker by volume according to Bloomberg (News - Alert) New Energy Finance, plans to use the funding to develop and build solar farms, mostly in Germany, Italy and Spain, Li said.
The funds will go to JinkoSolar’s Swiss subsidiary over a five-year period.
Compared to some other China-based solar manufacturers—notably, LDK Solar, Suntech, Yingli Solar, and Trina Solar—JinkoSolar saw enviable results during 2012. But with the industry still suffering from an oversupply of modules and price wars, among other problems, there are no guarantees for 2013.
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Edited by Braden Becker