China's JinkoSolar plans to invest USD 3.3bn to build new factories

• The principal running unit of solar module maker JinkoSolar Holding Co Ltd (NYSE: JKS) has signed framework deals for two manufacturing cooperations in China that will certainly require a mixed investment of regarding CNY 20.8 billion (USD 3.27 bn/EUR 2.97 bn).

Jinko Solar Co Ltd, also described as Jiangxi Jinko, has actually secured an investment participation framework agreement for the construction of monocrystalline silicon pull rod assembly line in Xining city, Qinghai province, with a complete annual production capacity of 30 GW.

This project will certainly be know in two phases at an overall price of concerning CNY 10 billion, consisting of CNY 7 billion for the initial phase of 20 GW as well as CNY 3 billion for the remaining 10 GW. Phase One needs to begin construction following month as well as the whole facility should be up and running in 2024 at the most recent.

The counterparties to this first deal are Qinghai Provincial Department of Industry as well as Information Technology, Xining Municipal Government as well as Xining Economic as well as Technological Development Zone Management Committee. They will offer certain preferential policies to Jiangxi Jinko.

Separately, the company also announced an investment framework agreement with the Shangrao Guangxin District Government to construct a complex for the production of 24 GW of solar modules and 100,000 tonnes of photovoltaic (PV) module aluminium frameworks in Shangrao city, Jiangxi province. The complete investment for this three-phase project is approximated at CNY 10.8 billion. The table below gives even more information concerning each phase.

Comparable to the other deal, Jiangxi Jinko will appreciate certain preferential policies.

"Backed by local policies as well as commercial supply chain in Shangrao city, this project will certainly help the Company to ramp up to realize the complete capacity of its in-house incorporated production capacity, and also make certain the manufacturing as well as distribution of high-efficiency items over the following few years," said Kangping Chen, Chief Executive Officer of Jiangxi Jinko.

As of end-2021, JinkoSolar has 12 manufacturing facilities all over the world with an incorporated yearly capacity of 32.5 GW for mono wafers, 24 GW for solar cells and 45 GW for solar modules.