JKS - JinkoSolar surges after launching next-gen storage battery in Europe

2023-06-15 10:36:24 ET

JinkoSolar ( NYSE: JKS ) +9.5% in early trading Thursday as it officially launched its second generation of the High Voltage Energy Storage Battery into the European market, at Intersolar Europe in Munich, Germany.

The upgraded product, a high-performance energy storage system designed for residential and small commercial application, features a self-developed Jinko HV battery with a single pack capacity of 3,84 kWh, which uses a long cycle high-quality cell that can reach 6K cycles at room temperature.

"We are once again raising the bar, this time not only in the PV business, but also in the Energy Storage System by offering a wide range of intelligent new energy solutions that set new standards for the growing demands of the market," the company said.

Separately, the city council of Jacksonville, Fla., voted earlier this week to withdraw legislation that would have provided up to $2.3M in property tax rebates over 10 years to JinkoSolar ( JKS ), but the company said it still plans to expand its solar panel manufacturing plant .

More on JinkoSolar:

• Financial and valuation comparison to sector peers
• Analysis: Margin Improvement And Lower Policy Risk Make JinkoSolar Attractive
• Stock price return: Up less than 1% YTD, down 25.5% in the past 12 months

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