JinkoSolar closes 2 GW distribution contract for DG with Aldo Solar for 2022

Rhea-AI Summary

JinkoSolar (NYSE: JKS) has announced a significant partnership with Aldo Solar, Brazil's largest solar distributor, for 2022. This collaboration marks the largest distribution agreement for Distributed Generation (DG) outside China, involving the distribution of approximately 4 million photovoltaic modules, equivalent to 2 GW of installed power. This agreement aims to boost the Brazilian solar market and enhance the availability of JinkoSolar's Tiger Pro panels. Both companies expect to double their business volume in this growing market.

Positive

• Signed a 2 GW distribution agreement with Aldo Solar for 2022.
• Partnership enhances JinkoSolar's market presence in Brazil, a key DG market.
• Expectations to double business volume in 2022 through strategic collaboration.

Negative

• None.

MARINGA, Brazil, Dec. 2, 2021 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. (the "Company," or "JinkoSolar") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that its principal operating subsidiary, Jinko Solar Co., Ltd. and Aldo Solar, which stands out as the largest distributor of solar energy solutions in Brazil with 31% market share, reinforce their partnership for 2022 with the signing of the largest distribution agreement for Distributed Generation ever signed by Jinko Solar Co., Ltd. outside China.

Under the agreement, approximately 4 million photovoltaic modules will be distributed, equivalent to 2 GW of installed power. The contract assures the resellers and installers of solar energy in Brazil the continuity of the commercialization of the Tiger Pro family of panels.

Mr. Kangping Chen, CEO of Jinko Solar Co., Ltd., said that the Brazilian market is indeed one of JinkoSolar's largest DG Market in the world. This 2 GW Agreement for 2022 between Jinko Solar Co., Ltd. and Aldo Solar, one of the biggest distribution contracts ever signed by Jinko Solar Co., Ltd., represents another milestone for the consolidation of the long-term partnership between the two companies, as well as an exceptional growth opportunity for JinkoSolar in Brazil.

"In Aldo Solar we found a loyal partner with the same core values as JinkoSolar and a partner that craves solid relationships like us. We want to thank Aldo Solar for their trust in past and future years and we are sure that the synergy between JinkoSolar and Aldo will lead us to achieving the desired successes", stated Mr. Chen.

Mr. Alberto Cuter, General Manager of JinkoSolar for Italy and Latin America, commented: "the Distributed Generation market is growing impressively in Brazil. In this scenario, further solidifying our partnership with Aldo in 2022 is an important step towards changing the country's energy matrix in favor of solar democracy. We are extremely proud of our position in the Brazilian market and Aldo is part of this achievement. We expect to double the business volume for 2022, mainly in the distributed generation operation. To reach this goal, we will improve our local team by hiring new employees to offer the best services to our partner".

Mr. Aldo Teixeira, founder, and CEO of Aldo Solar, added "after we established a long-term partnership in 2019, this new distribution agreement for 2022 is the proof of the shared values between the two companies, both leaders in their segments. I would like to thank JinkoSolar on behalf of our dealers and installers, as well as the entire Aldo Solar family".

"For 2022, our plan is to grow three digits and reach sales of R$ 6 billion. The partnership with Jinko will be fundamental for us to reach this goal. More than that, through this partnership we hope to spread solar energy even more and offer surprising conditions of clean and cheaper energy to all Brazilians", concluded the CEO.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 31 GW for mono wafers, 19 GW for solar cells, and 36 GW for solar modules, as of September 30, 2021.

JinkoSolar has 9 productions facilities globally, 22 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United States, Mexico, Brazil, Chile, Australia, Portugal, Canada, Malaysia, UAE, Denmark, and global sales teams in China, United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi Arabia, Tunisia, Morocco, South Africa, Costa Rica, Colombia, Panama, Kazakhstan, Malaysia, Myanmar, Sri Lanka, Thailand, Vietnam, Poland and Argentina, as of September 30, 2021.

For more information:  www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: pr@jinkosolar.com

About Aldo Solar:

Aldo, headquartered in Maringá/PR – Brazil, has been in the market for 39 years and is a leader in solutions for the generation of solar energy in the country, in addition to commercializing Information Technology solutions. Aldo has ISO 9001, ISO 14001, and OHSAS 18001 certifications, is associated with ABSOLAR (Brazilian Association of Photovoltaic Solar Energy), ABRADISTI (Brazilian Association of Information Technology Distribution) and actively participates in the PNRS - National Solid Waste Program through the Aldo Crazy Recycling. With the positioning "For a new world, a new Attitude", Aldo is getting ready to celebrate its 40 years of operation in 2022, more sustainable and innovative than ever.

Press contacts:

Neris Comunicação
Alessandra Neris (11) 99104-4938 – alessandra@neris-comunicacao.com.br

 

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SOURCE JinkoSolar Holding Co., Ltd.

FAQ

What is the significance of JinkoSolar's 2 GW distribution agreement with Aldo Solar?

The agreement represents the largest distribution contract for Distributed Generation signed by JinkoSolar outside China, enhancing their market presence in Brazil.

How many photovoltaic modules will be distributed under the JinkoSolar and Aldo Solar agreement?

Approximately 4 million photovoltaic modules will be distributed, equivalent to 2 GW of installed power.

What are the expectations for business growth from the JinkoSolar partnership with Aldo Solar in 2022?

Both companies expect to double their business volume in the Brazilian solar market in 2022.

What role does Aldo Solar play in the Brazilian solar market?

Aldo Solar is the largest distributor of solar energy solutions in Brazil, holding a 31% market share.

How does the partnership with Aldo Solar align with JinkoSolar's goals?

The partnership is essential for expanding JinkoSolar's reach in Brazil and contributing to the growth of the solar energy sector in the country.