Shanghai-based JA Solar Holdings Co., Ltd. (JASO) announced that it has completed shipping solar modules of 100 megawatts (“MW”) capacity to the first large-scale solar farm in Pakistan.
The solar farm, spread across 500 acres, is located within the Quaid-e-Azam Solar Park in Bahawalpur, Pakistan. With very high solar radiance, the region receives roughly 3,000 hours of sunlight every year making it ideal for PV power generation. However, with the summer temperature shooting up to 50 degrees, the acutely hot and dry climate calls for the highest quality modules.
Pakistan’s energy demand has risen by roughly 8% annually resulting in an energy production deficit of 6 gigawatts (“GW”).
The project is an important step towards consolidating the China-Pakistan Economic Corridor, a program formulated by the governments of both these countries for development of energy and infrastructure projects.
Solar consciousness is a rising phenomenon worldwide. For instance, India had earlier targeted to add 20 GW of solar capacity by 2022, which was recently reset to 100 GW. With this target leap, we expect Chinese solar PV manufacturers like Yingli Green Energy Holding Co. Ltd. (YGE) and Trina Solar Ltd. (TSL) to export PV modules to India.
Recently, JinkoSolar Holding Co., Ltd. (JKS) declared that it has provided Harsha Abakus Solar Pvt. Ltd. with 21.4 MW of solar photovoltaic modules for a ground-mounted solar PV project in Gujarat, India. The project is expected to remove about 30,000 tons of CO2 each year (read: JinkoSolar Supplies PV Modules for Indian Solar Project).
Moreover, all major solar PV producers across the globe are trying to increase the conversion rate of their solar panels. Producers with the help of scientists are trying to develop new technology to make electricity through solar a cheap option. Yesterday, in a press release it was stated that Australian scientists have developed a new technology whereby more than 40% of sunlight hitting the panels will be converted into electricity as against the current traditional conversion rate of 33%.
In the third quarter 2014, JA Solar’s total shipments increased 57% year over year to 785.4 MW while module shipments surged 127.4% from last year. JA Solar is increasingly focusing on module shipment and its widening order book, both in terms of numbers and new international markets, bears testimony to that.
JA Solar anticipates robust demand in 2015 and plans to expand its cell and module capacity by 20%. For 2014, the company projects shipments in the range of 3.1 GW to 3.2 GW.
JA Solar Holdings currently carries a Zacks Rank #3 (Hold).
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