JinkoSolar increases 2015 module shipment guidance to as high as 4.5GW

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

Tier-one PV manufacturer JinkoSolar has raised its module shipment guidance for the full-year. The company expects shipments to be in the range of 4.0GW to 4.5GW, up from previous guidance of 3.3GW to 3.8GW. 

The increased guidance could catapult the company from being ranked fourth globally, based on shipments in 2014, to being ranked second behind Trina Solar, should it meet the high end of the revised guidance. 

Rankings positions (based on 2014 shipments) 2 to 5 (Yingli Green, Canadian Solar, JinkoSolar and JA Solar) are converging towards the 4GW-plus range, setting the scene for further rankings shuffle later in the year. 

Canadian Solar had recently reiterated full-year guidance of 4.0GW to 4.3GW, while Trina Solar further separated itself from the pack by recently increasing shipment guidance for 2015 to 4.9GW to 5.1GW. JA Solar also reiterated full-year guidance of 3.6GW to 4GW, while Yingli Green has yet to release second-quarter results or update previous shipment guidance of 3.6GW to 3.9GW given in the first quarter of 2015. 

Q2 financials

JinkoSolar reported second quarter revenue of US$516.2 million, an increase of 16.4% from the previous quarter and 2015 a 31.6% increase from the second quarter of 2014.

Gross margin was 20.7%, compared with 20.3% in the first quarter of 2015 and 22.6% in the second quarter of 2014. Income from operations was US$38.2 million, while gross profit was US$107.0 million. 

Total solar module shipments in the second quarter were 913.4MW, which included 90.4MW for its downstream projects. Solar product shipments to third parties amounted to 915MW, consisting of 823MW of solar modules, 59.5MW of silicon wafers and 32.5MW of solar cells, representing an increase of 15.9% from 789.2MW in the first quarter of 2015.

Kangping Chen, JinkoSolar's chief executive, said: “Global solar demand remains robust, allowing us to build upon our leadership position in a number of key and new emerging markets. We are well positioned in China as the market leader to benefit from the expected strong demand during the second half of 2015. We also made substantial progress in the US where shipments increased by 115% sequentially, In the Asia-Pacific region, we increased our market share substantially in Thailand. Shipments to Japan and the UK returned to normal levels following the year-end rush last quarter but still remain very active and show promising signs of growth.”

Production update 

JinkoSolar added 500MW of solar cell capacity in the second quarter of 2015, taking cell nameplate capacity to 2.5GW. The company also added 500MW of module capacity in the quarter, taking nameplate capacity to 4GW. 

In the second quarter the company started production at its new plant in Malaysia, which is planned to have a nameplate solar cell capacity of 500MW and a module nameplate capacity of 400MW. 

By the end of 2015, JinkoSolar is expecting total module nameplate capacity to reach 4.3GW, while cell capacity will remain at 2.5GW, achieved in the second quarter. 

19 August 2021
The utility-scale PV market is poised for exponential growth and yet the industry still has many fundamental opportunities to improve on standards and best practice. Tracker shade loss has been one of those topics that deserve more attention, but has been typically handled by derate factors rather than trying to accurately forecast the loss over the life of the system. Join Nextracker’s subject matter experts, Aron Dobos and Neelesh Umachandran, and Rounak Kharait, director of solar energy assessments at DNV, for a webinar about why shade modeling matters and recommendations on what the solar industry should do about it.
25 August 2021
The Intersolar Summit Brasil Nordeste takes place in Fortaleza, Brazil. It addresses leading local and international experts on solar power and renewable energy in the region. The Summit’s mission is to provide in-depth education, enable high-quality networking opportunities, expand the use of PV technologies at regional and national level and strengthen the local PV industry. The Intersolar Summit Brasil Nordeste is organized by Intersolar South America - Latin America’s largest exhibition and conference for the solar industry: Solar Promotion International GmbH, Pforzheim, Freiburg Management and Marketing International GmbH (FMMI) and Aranda Eventos & Congressos Ltda, São Paulo as co-organizer.
25 August 2021
Join us to hear directly from the CTOs and heads-of-research from the top-20 cell/wafer producers to the PV industry today. The event will focus on predicting the key metrics underpinning the next big shift to n-type with answers to the key questions: When will the transition to n-type happen? Which companies will be first to 10 GW capacity and production? Who will be the key equipment suppliers for the new production lines? Which n-type process flow/architecture will emerge as the front-runner? What will polysilicon purity and wafer thickness levels look like for optimized n-type manufacturing? What will the upstream poly/wafer supply-chain look like in 5 years from now?
26 August 2021
In this webinar, JA Solar will present its product portfolio based on the latest technologies to improve your PV projects, ensuring maximum reliability and performance. During the webinar we will receive insight from JA Solar about its solar technology roadmap and how the manufacturer is providing customers with innovative solutions to suit their needs, while we will also analyse how to determine the best product solution for each solar project.
6 September 2021
The 38th European Photovoltaic Solar Energy Conference and Exhibition will be held online from 6 - 10 September 2021, allowing PV experts from all around the globe to participate with just one click! The EU PVSEC is the world's leading forum for PV Research and Development and the biggest Conference on PV Solar Energy worldwide. That is why PV experts from all around the globe are keen on gathering together each year to be part of this specialist’s event, to present and discuss the latest developments in Photovoltaics, to network and to conduct business.
7 September 2021
Intersolar Mexico sits at the cross-section of photovoltaics, solar heating & cooling technologies, and energy storage. The event serves as the industry’s go-to source for invaluable technology trends and premier B2B contacts in the promising Mexican solar market. In its second edition from September 7–9, 2021 Intersolar Mexico together with the co-located The GREEN Expo® and Aquatech Mexico will move to a new venue – Centro Citibanamex.

Read Next

August 4, 2021
Danish investment firm Copenhagen Infrastructure Partners has signed an agreement with Amp Energy to enable the addition of 1.7GWp of renewables projects in India.
August 4, 2021
Walmart will buy renewable energy credits from 23 community solar projects across New York State through an agreement with developer Nexamp.
August 4, 2021
Israeli independent power producer Enlight Renewable Energy has secured a deal to acquire a portfolio of solar projects in Spain with a combined capacity of 490MWdc.
August 4, 2021
SunPower was boosted by rising homeowner demand for its PV and storage solutions during Q2 as the US solar installer added 13,000 new customers, bringing its total residential install base to more than 376,000.
August 4, 2021
The Australian Energy Market Operator (AEMO) has published a series of planning and forecasting publications under the 2021 Inputs, Assumptions and Scenarios (IASR) report that present five different visions of Australia's future
PV Tech Premium
August 4, 2021
Shipping costs have increased substantially since COVID-19, with knock-on impacts on the solar industry. PV Tech spoke to industry insiders about what its means for the solar industry and when pressures might ease

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK