JinkoSolar Holding Co. (JKS:US), a Chinese solar manufacturer, rose the most in more than six months after it agreed to supply China Guangdong Nuclear Power Holding Corp. with panels for a 30-megawatt project.
JinkoSolar’s American depositary receipts rose 16 percent to $3.32 at the close in New York, the most since Feb. 9. Each ADR is worth four ordinary shares.
The company didn’t disclose terms of the deal or construction dates for the project in a statement today. China Guangdong is planning the solar farm in the city of Hami in the Xinjiang Uyghur autonomous region.
JinkoSolar, whose ADRs have fallen 34 percent this year, has capacity to produce about 1,200 megawatts of solar panels a year, it said.
To contact the reporter on this story: Ehren Goossens in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Reed Landberg at email@example.com