Shining Brightly: JinkoSolar Inks 600 MW Deal In China
On August 3, 2012, JinkoSolar (JKS :NYSE) was in a death spiral as the stock sank to a low of $2.01. But less than a year later the solar manufacturer is touting large deals and is up 395 percent.
Today JinkoSolar announced that they will be supplying China Three Gorges New Energy Corp. with 600 megawatts (MW) of solar panels from 2013 to 2015.
The panels will be installed in Western China. This is the first major deal since the company announced a 200 MW joint project in China and a 81 MW supply contract in South Africa in December 2012.
With a share price increase of 12.71 percent over the last year, only SunPower (SPWR :NASDAQ) has larger gain during the same time period within the solar industry with a 68.27 percent increase.
Shares of JinkoSolar were up 2.49 percent in midday trading.