JinkoSolar (JKS) Shares Surge on Major Supply Deal and Strategic Partnership

Nov 20, 2024

JinkoSolar (JKS, Financial) experienced a significant stock price increase of 7.04%, reaching $22.285. The surge follows the company's announcement of a major supply agreement and a strategic partnership.

JinkoSolar will supply 1.8GW of N-type TOPCon solar modules to the PV3 photovoltaic project in Abu Dhabi, developed by EDF Renewables. This project marks a significant milestone for JinkoSolar as it expands its presence in the Middle Eastern renewable energy market.

In addition, JinkoSolar's energy storage division has entered into a strategic cooperation framework agreement with Castrol, a subsidiary of BP. This partnership aims to advance research and application in the energy storage sector through resource sharing and technological innovation. The collaboration is expected to enhance both companies' capabilities in developing sustainable energy solutions.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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