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Russia’s War Will Boost Solar Demand This Year, China Giant Says

  • JinkoSolar sees clean energy playing a bigger role in Europe
  • Producer saw first-quarter revenue jump 92% on module demand
A solar farm in China.

A solar farm in China.

Photographer: Qilai Shen/Bloomberg

Europe’s efforts to reduce reliance on imports of Russian fossil fuels will boost demand for solar energy as soon as this year, according to JinkoSolar Holding Co., the world’s third-largest supplier. 

Global solar capacity installations should rise to 250 gigawatts this year as nations seek alternatives to Russian supplies, and with the impact of new Covid-19 outbreaks likely to be short-term and controllable, the Shangrao, China-based producer said Thursday in an earnings statement. Installations were 184 gigawatts in 2021, according to BloombergNEF.