For JinkoSolar, the 575 MW of capacity it will supply for X-Elio’s latest projects in Spain — a market recently tipped by Fitch Solutions as a “global solar power outperformer” — underscores how nimbly the manufacturer has managed to shrug off this year’s slowdown in China by catering to healthy global demand for its PV modules.
“Supplying [X-Elio’s] large-scale pipeline projects in Spain and Mexico with our ultra-high efficiency PERC mono modules has allowed us to significantly expand our share of the Spanish and Mexican PV markets this year,” said JinkoSolar CEO Kangping Chen.
The Shanghai-based company, whose PV module shipments surged more than 20% year on year to 3.4 GW in the April-June period, has provided 575 MW of its Cheetah 72 panels for 12 projects that X-Elio is building in the Spanish cities of Sevilla, Murcia, Valencia, Ciudad Real, Badajoz, Albacete, Almería, Segovia, and Cartagena.
The Spanish developer will use the rest of its 950 MW order from JinkoSolar for a 257 MW installation in Navojoa, Mexico, as well as another 118 MW project near the Mexican port of Veracruz.
In late October, Fitch Solutions Macro Research identified Spain as one of the world’s most promising solar markets, forecasting 11.4 GW of new solar capacity in the country through 2028. It expects a growing number of private power purchase agreements – as well as grid parity projects selling electricity directly on the spot market – to support much of this growth.
However, the research firm also noted the long-term potential of Vietnam, one of this year’s most surprising PV markets — and one in which JinkoSolar has also found opportunities as it seeks refuge from its relatively stagnant home market. Most recently, the company supplied 258 MW of its mono PERC double glass modules for a 258 MW solar array in Vietnam’s Ninh Thuan province.