Chinese JinkoSolar bets on Brazil - report

Jan 7, 2014 - Chinese photovoltaic modules maker JinkoSolar Holding Co Ltd (NYSE:JKS) will focus on the Brazilian market and already estimates a demand of 300 MW in prospective clients for its products, Brazilian sector news site Jornal da Energia reported yesterday.

The big challenge ahead of Jinko is that it does not have a plant installed in Brazil which would have made it easier for the company to invest as it would have had the support of the Brazilian National Social and Economic Development Bank (BNDES).

Jinko, which already produces in countries such as South Africa and Portugal, prefers not to speculate on a date for installation of its first unit in Brazil, according to Jornal da Energia. However, the company has an estimate for the plant's cost -- BRL 28 million (USD 11.8m/EUR 8.6m), according to the sales manager of Jinko, Alex Feitosa. The Brazilian unit could have a production capacity of between 120 MW and 180 MW per year, the website said.

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