Sojitz Pla-Net Forms Strategic Alliances with Two of China’s Large PV Module Makers
-Sales of Modules and PV Package Insurance Developed for Japanese Market to be Increased-
Feb. 27, 2014
Sojitz Pla-Net Corporation
Sojitz Insurance Agency Corporation
Sojitz Pla-Net Corporation formed strategic alliances with Jinko Solar Holding Co., Ltd. (Jinko) and another China’s leading photovoltaic module maker for sale of photovoltaic modules (solar power panels) in Japan and for supply of materials used in the modules to the companies.
Module makers provide long-term product and output guarantees, but as a result of the collapse of some major overseas module makers and other factors, in large-scale solar generating projects in particular, responding to the concerns regarding the risk of collapse of the module maker is becoming increasingly important for investors and users. Sojitz Pla-Net called on Sojitz Insurance Agency Corporation to develop package insurance for solar projects. The package insurance provides compensation for natural disasters and other accidents that occur during construction and operation of the solar facility, expanding on earlier coverage to provide coverage that approaches maker guarantees.
Sojitz Pla-Net sells Chinese-made photovoltaic modules and Japanese-made power conditioners (transformers). The 2014 sales target for overall business under the strategic alliance with the two companies and the package insurance for comprehensive coverage of solar facilities is 6 billion yen. Under the strategic alliance, in addition to module sales in Japan, Sojitz Pla-Net will supply Japanese-made photovoltaic module materials (poly silicone, electrode conductor materials, back sheets, etc.) to the two Chinese makers and promote the efficiency of logistics operations.
In the renewable energy field, feed-in tariffs (FIT), a system for purchase of all power generated at a fixed price, have been introduced to solar power projects in Japan, and the market has rapidly grown to more than 1 trillion yen. Against this backdrop, Sojitz Pla-Net is making a shift in its solar power business from “volume sales” to “quality sales” and has prepared an extensive menu of services from logistics to financing and insurance, contributing to the development of users in Japan.
Overview of Jinko Solar
|Address||16F, Building No.2, No.428 South Yanggao Road, Shanghai, China|
|Year of establishment||2006|
|Sales||US$758 million (2012)|
|Business activities||Production and sale of high-quality ingots, wafers, cells, and photovoltaic modules|
|No. of employees||10,000 (as of end of January 2014)|