JinkoSolar Holding Co., the best-performing Chinese solar manufacturer over the past year, agreed to supply panels with 40 megawatts of capacity to solar developer 8i SA for a project in Chile.
Modules for the project in the Valparaiso region of Puchuncavi will be delivered beginning in the fourth quarter, the Shangrao, China-based company said today in a statement. Privately-held 8i expects to complete the solar farm in July. Terms weren’t disclosed.
“While there is no feed-in-tariff policy or government incentive system for utility-scale solar project in Chile, the country is experiencing a strong increase in solar energy demand,” JinkoSolar Chairman Li Xiande said in the statement.
Installations in Chile are estimated to rise to as much as 574 megawatts this year, up from 9 megawatts last year, according to Bloomberg New Energy Finance. Global demand may climb to 52 gigawatts from 40.3 gigawatts in 2013.
JinkoSolar’s American depositary receipts, each worth four ordinary shares, have more than doubled in the past 12 months, placing it fifth among peers on the Bloomberg Industries Global Large Solar Energy Index.