‘Solar Module Super League’ member JinkoSolar has signed a 2GW module supply deal with Brazilian PV distributor Aldo Solar.
The manufacturer said the deal, effective from 2022, is the largest distribution agreement the company has signed outside of China.
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Under the terms of the deal, around 4 million JinkoSolar modules will be distributed throughout Brazil by Aldo Solar, which it said holds a 31% share of Brazil’s distributed solar market.
Kangping Chen, CEO at JinkoSolar, said the deal was an opportunity for “exceptional growth” in the Brazilian market.
Alberto Cuter, general manager for JinkoSolar for Italy and Latin America, further added that the deal was expected to double the company’s business volume next year and revealed the manufacturer would be hiring new staff in the country to ramp up its service for Aldo Solar.
Aldo Solar meanwhile revealed that it is targeting triple-digit growth next year, with a sales target of BR$6 billion (US$1.05 billion) in place.
“The partnership with Jinko will be fundamental for us to reach this goal,” Aldo Teixeira, founder and CEO at Aldo Solar, said.
Module and inverter manufacturers alike have targeted the Brazilian PV market this year, expectant of surging growth in the years to come. In September microinverter manufacturer Enphase Energy announced its entry into the Brazilian market, stating it was doing so with high expectations.
PV Tech Premium explored the industry’s expectations for the Brazilian PV market and its key drivers in an exclusive analysis piece published in September, which can be read here.