Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

Jinko Solar Has Impressive Start To 2016 As World’s Leading Solar Module Supplier

Chinese solar module manufacturer Jinko Solar has reported an impressive start to 2016, and is now the world’s leading solar module supplier.

Earlier this year, Jinko Solar reported significant improvements in its financials for 2015, and was at the time the world’s third largest supplier of solar PV modules. Just last week, competitor Trina Solar reported total module shipments for the quarter of 1,423.3 MW, holding the company as the world’s leading solar manufacturer. However, in publishing its own first quarter financial results, Jinko Solar has now usurped that position, shipping 1,600 MW of solar modules in the first quarter, of which 166 were used in the company’s own downstream projects. As with Trina Solar, Jinko Solar’s shipping numbers were down on the preceding fourth quarter (which was a global record-setter), but were up 102.7% from the same quarter a year earlier.

“We began the year very strongly with total module shipments reaching 1,600 MW, ranking us as the biggest module supplier among our peers during the first quarter,” said Mr. Kangping Chen, JinkoSolar’s Chief Executive Officer.

Total revenue for Jinko Solar in the first quarter was RMB5.47 billion ($847.8 million), down 10% on Q4’15 but up 98.8% on Q1’15, and net income was RMB313.3 million ($48.6 million) — up a staggering 513% on the first quarter in 2015 — reflecting comparable growth in the global solar industry as a whole.

“Global solar demand continues to grow as costs go down,” said Mr. Chen. “China remains our biggest market with a number of big orders continuing to come in, a trend we believe will continue in the second quarter. Our market share in the US continued to expand. Although the ITC extension resulted in some projects being postponed, we are confident in our ability to hit our shipment targets to the US for the year with our overseas production facility providing extra flexibility and higher margins. The increasing recognition of our brand name is also generating great opportunities in exciting emerging markets such as Chile, Thailand and India.”

The company is expecting a similarly impressive shipping figure of 1.6 GW to 1.7 GW, and estimating total solar module shipments for the year 2016 to be in the range of 6 GW to 6.5 GW.


Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Comments

#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.

 

Support our work today!

Advertisement

Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports

Advertisement

EV Sales Charts, Graphs, & Stats

Advertisement

Our Electric Car Driver Report

30 Electric Car Benefits

Tesla Model 3 Video

Renewable Energy 101 In Depth

solar power facts

Tesla News

EV Reviews

Home Efficiency

You May Also Like

Batteries

Welcome to the next issue of China x Cleantech, our July 2019 edition.

Clean Power

The 300 kilowatt CannonBall Community Solar Power plant on the Standing Rock Reservation is the largest solar power farm in North Dakota.

Clean Power

Chinese solar PV manufacturing giant Jinko Solar announced its first quarter 2019 financial results last week, which revealed the company's first-quarter shipments jumped 50.7%,...

Clean Power

Trina Solar is now testing a half-frame solar panel for use with solar trackers with hopes to lower the cost per watt for solar...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.