JinkoSolar Subsidiary to Build 56 GW Factory in China

JinkoSolar Holding Co, a Chinese solar module manufacturer, has announced that its majority-owned principal operating subsidiary, Jinko Solar (Jiangxi Jinko), has entered into an investment framework agreement with the Management Committee of Transformation Comprehensive Reform Demonstration Zone of Shanxi Province. JinkoSolar said that the under the terms of agreement, it will establish an integrated project for the manufacturing of monocrystalline silicon pull rod, silicon wafer, high-efficiency solar cells and modules.

JinkoSolar mentioned in its official statement that Jiangxi Jinko plans to construct production lines with a total annual production capacity of 56 GW according to the agreement. This will be done for each of monocrystalline silicon pull rod, silicon wafer, high-efficiency solar cells and modules in the Transformation Comprehensive Reform Demonstration Zone of Shanxi Province. JinkoSolar mentions that the project will be established for a total estimated investment of about RMB 56 billion.

“The Project will be constructed in four phases with an annual production capacity of 14 GW for each phase,” said JinkoSolar.

The first and second phases of the project are expected to commence production in the first and second quarter of 2024, respectively. The third and fourth phases of the project are expected to commence production in 2025, that is, the middle of this decade. JinkoSolar said that the detailed construction plan and schedule for the project will be subject to market conditions and relevant governmental approvals.

At present, JinkoSolar had 14 productions facilities globally and 24 overseas subsidiaries. Its business is rising quite rapidly as world looks bullish on renewable energy to arrest the vagaries of climate change. A newly released report published that JinkoSolar topped the global solar PV market in Q1, beating out “JA Solar, Trina, Longi, and other top sellers” (Solarbe, 2023).” The firm delivered 13.04 GW solar panels in the first quarter of 2023, among which nearly 50% is N-type Tiger Neo panel, the most of any of the solar PV brands.