JinkoSolar secured a 600 MW supply agreement for rooftop solar installations in Nigeria, comprising 500 MW under a framework with the Fouani Group and an additional 100 MW with another distributor for Tiger Neo 3.0 panels.
The 500‑MW portion will deliver photovoltaic modules to the Fouani Group, while the 100‑MW segment focuses on high‑efficiency Tiger Neo 3.0 panels that achieve up to 24.8% efficiency, a technology well suited to Nigeria’s hot, humid climate.
Nigeria’s power sector is marked by frequent outages and high diesel‑generator costs, driving commercial, industrial and residential customers toward distributed solar. The new contract positions JinkoSolar to capture this growing demand and strengthens its foothold in a market that offers higher margins than its domestic Chinese operations.
The deal aligns with JinkoSolar’s strategy to diversify beyond China and tap higher‑margin overseas markets. It adds a substantial revenue stream and supports the company’s Q1 2026 results, where revenue fell 11.5% YoY but gross profit margin improved to 8.3% from 2.5% in the prior year, largely due to higher average selling prices and a shift toward high‑efficiency products.
The inclusion of Tiger Neo 3.0 panels in the Nigerian contract is expected to reinforce the company’s pricing power, as the panels’ superior efficiency allows for higher selling prices and better performance in high‑temperature environments. The contract also provides a platform for future shipments and could help offset the revenue decline seen in Q1 2026.
Mohamed Fouani, Managing Director of the Fouani Group, said, "In response to high global oil prices and the vital need for sustainable energy, Fouani Group and Jinko have joined forces. Guided by the government’s roadmap for transformation, this partnership ensures that we will play a major role in every light that shines across the country."
The contract represents a significant operational milestone for JinkoSolar, reinforcing its presence in Africa and demonstrating its ability to secure large‑scale projects in emerging markets, thereby enhancing its competitive position and long‑term growth prospects.
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