JinkoSolar News: JKS Stock Jumps 8% on Vietnam Project

JinkoSolar (NYSE:JKS) news for Monday concerning a massive solar power project in Vietnam has JKS stock lighting up.

Image of a green JinkoSolar (JKS) with light shining from behind it.
Source: Lutsenko_Oleksandr / Shutterstock.com

A JinkoSolar news release reveals that the company has provided Trung Nam Group with solar panels for a solar power plant project in the country. That includes 611MW of Tiger bifacial transparent backsheet modules.

According to the news release, the panels from JinkoSolar are being used in one of the largest solar power projects in Vietnam and Southeast Asia that uses using bifacial modules. The Tiger modules offer several benefits over normal modules, such as a smaller size and ability to produce more power.

Kangping Chen, CEO of JinkoSolar, said the following about the news.

“Unlocking the potential of clean energy through large-scale solar deployment will make solar energy more affordable in Vietnam and help drive economic development. Vietnam is the largest market for utility scale projects in Southeast Asia and we are very proud to be the chosen supplier for this large PV project.”

Trung Nam notes that there are a couple of reasons it went with the Tiger modules from JinkoSolar over others. That includes their resistance to moisture, as well as their ability to produce more power efficiently.

JinkoSolar doesn’t reveal financial details of the deal with Trung Nam in the news release.

JKS stock was up 7.7% as of Monday afternoon.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2020/09/jinkosolar-news-pushes-jks-stock-higher/.

©2021 InvestorPlace Media, LLC