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COVER STORY JinkoSolar: a world leader
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JINKOSOLAR: A WORLD LEADER
Since its inception, JinkoSolar has been characterised by
exponential growth, capturing more than 10% of the global market share in a few years, and positioning itself as the number one manufacturer of PV modules, according to the Tier 1 ranking, with sales of over 9.6 GW. One of the key factors to achieving this growth has been the company’s sales diversification, involving placing more than 60% of its turnover outside China, which has positioned JinkoSolar as the leader in emerging markets. Specifically, in Latin America, JinkoSolar closed last year with more than a 53% market share, thanks to its considerable participation in
markets such Brazil, Mexico, Colombia, El Salvador and Argentina. In Colombia for example, JinkSolar closed 2018 with more than 90% of the market share. Moreover, these results have been achieved while maintaining the financial health of the company and adding value for its investors.
Keys to success in Latin America
The success of JinkoSolar in Latin America is the result of a series of
factors based on which the company has implemented its strategy. Its vertically integrated business model has allowed it to maintain strict control over the quality of its products, performing more than 52 tests prior to delivery, and keeping prices highly competitive. In addition, more than US$22m are invested every year in R&D, in order to remain at the forefront as regards new technological advances.
Added to which, its listing on the New York Stock Exchange (NYSE:JKS) and the quarterly publication of its financial statements, represent key elements for JinkoSolar, given that they generate a relationship of transparency with both industry and its investors. positioning the company as a reliable partner with a high level of bankability.
One key factor, in Latin America in particular, is the company’s strong local presence. JinkoSolar has a team of 22 people through which it provides local services covering: technical management, logistics, business development, marketing, HR and sales. Having a local team enables a better understanding of the markets, regulations and the business culture but above all helps the company gain proximity to its clients whenever necessary.
JinkoSolar currently offers the most extensive product portfolio in the industry, always seeking the best solution for both commercial scale projects and distributed generation. Along with the standard polycrystalline and monocrystalline modules, products such as the bifacial module with the capacity to generate up to 30% more energy by using both faces.
By dividing the cell module in two, a significant reduction in the effect of temperature on the module is achieved, which in turn increases its output. The highly efficient PERC module and the recently launched Cheetah with outputs of up to 400 W and high efficiency cells, definitively offer a range of options that best adapts to the needs of each client, bringing down the LCOE and improving the financial indicators of each project.