JinkoSolar has announced that its subsidiary, Jiangxi Jinko Solar Co., Ltd., has entered into an investment framework agreement with the Management Committee of the ‘Transformation Comprehensive Reform Demonstration Zone’ in Shanxi Province. The agreement outlines plans for an integrated project that will manufacture monocrystalline silicon pull rods, silicon wafers, high-efficiency solar cells, and modules.
Jiangxi Jinko intends to establish production lines within the Transformation Comprehensive Reform Demonstration Zone with a combined annual production capacity of 56 GW for each component. The estimated investment for the entire project is around RMB 56 billion.
The construction will be carried out in four phases, with each phase having a capacity of 14 GW per year. The first two phases are expected to commence production in the first and second quarters of 2024, respectively, while the remaining two phases are planned for production in 2025. The precise construction timeline will be determined based on market conditions and regulatory approvals.
JinkoSolar currently holds a majority equity interest of approximately 58.62% in Jiangxi Jinko. This strategic investment aims to expand JinkoSolar’s manufacturing capabilities and enhance its position as a major player in the solar industry. The company has a reputation for its innovation and global reach, and this new project aligns with its growth strategy.