JinkoSolar’s Subsidiary to Invest RMB315 million in Polysilicon Production Line

JinkoSolar’s Subsidiary to Invest RMB315 million in Polysilicon Production Line

Leading solar module manufacturer, JinkoSolar Holding Co., Ltd., yesterday announced its holding subsidiary, Shangrao JinkoSolar Industry Development Co., Ltd. plans to invest RMB 315 million (China’s official currency) equivalent to USD 48.4 million (Rs 360 crores approx) of monetary capital to increase capital and shares in Inner Mongolia Xinte Silicon Materials Co., Ltd.

Inner Mongolia Xinte Silicon Materials is a wholly-owned subsidiary of Xinte Energy Co., Ltd which produces high-purity polysilicon. This investment will be used for the construction of a high-purity polysilicon production line with an annual capacity of 100,000 tons. After the capital increase is completed, the Company will hold a 9.00% stake in Inner Mongolia Xinte. Polysilicon shortages and subsequent price increases have roiled the solar market this year, readers will recall.

According to a statement, JinkoSolar will have the right to demand Xinte repurchase their 9 percent stakes if the manufacturing plant produces less than 50,000 tons of polysilicon per year in successive years. Xinte said such a development would cost it no more than RMB857 million (USD 133 million).

Speaking of the investment, Mr. Kangping Chen, CEO of JinkoSolar Co., Ltd., stated, “Xinte Energy is a leader in polysilicon technology and industrialized operations. We are very pleased to extend this close partnership with them and remain fully confident about the accelerated growth of the PV industry over the next few years. We believe that this investment is not only a solid growth strategy but will help to stabilize silicon material supply and reduce supply chain volatility.

“By cooperating with upstream specialized manufacturers, we will continue to strengthen the advantages of our integrated capacity and solidify the foundation for mass production of high-efficiency modules year-over-year. We will continuously work towards win-win situations through deeper cooperation with our supply chain partners, and jointly promote the development of the global solar market and accelerate the transformation of green energy,” Kangping added.

Recently, JinkoSolar has achieved the ‘Overall High Achiever’s awards at RETC’s (Renewable Energy Testing Center) 2021 PVMI (PV Module Index) Report for the second consecutive year.

And before that, the solar module maker has showcased some of its new products that include Tiger Pro 415W, and a new N-type TOPCon solar panel at the 15th SNEC International Photovoltaic Power Generation and Smart Energy Conference & Exhibition held in Shanghai, China, on June 3-5, 2021. 

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Bhoomika Singh

Bhoomika is a science graduate, with a strong interest in seeing how technology can impact the environment. She loves covering the intersection of technology, environment, and the positive impact it can have on the world accordingly.