April 3, 2013 / 10:31 AM / in 5 years

JinkoSolar to supply 115 MW of panels to South Africa

April 3 (Reuters) - Chinese solar company JinkoSolar Holding Co Ltd said it would supply 115 megawatts (MW) of solar panels to two projects in South Africa as it makes inroads into emerging solar markets like many of its peers amid overcapacity and waning demand.

JinkoSolar, which sells panels that convert sunlight into electricity, said it would supply 75 MW to the first project and 40 MW to the second.

The company supplied 81 MW of equipment to South Africa in December.

South Africa has seen strong growth in clean energy investments last year, attracting $5.5 billion through its tender for wind and solar power projects, as it looked to reduce carbon emissions and bolster electricity supply.

“South Africa, with its abundance of sunshine, rapid economic growth and governmental support, is one of the most important emerging markets for JinkoSolar,” said Arturo Herrero, chief marketing officer of JinkoSolar.

JinkoSolar, like its peer JA Solar Holdings Co and Yingli Green Energy Holding Co, has been focusing on emerging markets such as China, South Africa and South America as the European Union could follow the United States in imposing anti-dumping tariffs on Chinese solar products.

The solar panel industry has also been hit hard by excess manufacturing capacity and declining foreign demand as European countries -- once top consumers of solar power -- cut back subsidies for green power.

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