JinkoSolar and Tongwei in Talks for Joint Investment in High-Purity Crystalline Silicon Project

JinkoSolar Holding Co., Ltd. - one of the largest solar module manufacturers announced that the company is in talks with Tongwei Co., Ltd. to sign a "strategic cooperation agreement" to invest jointly in two important projects: a high-purity crystalline silicon project ; a silicon wafer project

February 20, 2021. By News Bureau

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JinkoSolar Holding Co., Ltd. - one of the largest solar module manufacturers announced that the company is in talks with Tongwei Co., Ltd. to sign a "strategic cooperation agreement" to invest jointly in two important projects: a high-purity crystalline silicon project with an annual capacity of 45,000 metric tons; a silicon wafer project with an annual production capacity of 15GW.

As per the agreement, JinkoSolar will own a 35% equity stake in the 45,000 tons high-purity crystalline silicon project, while Tongwei will hold a 30% equity stake in the 15GW silicon wafer project.

JinkoSolar will supply Tongwei with a total of approximately 6.5GW of silicon wafer products for three years, based on the previous procurement contract for 93,000 metric tons of polycrystalline silicon.

Commenting on the agreement, Kangping Chen, Chief Executive Officer of JinkoSolar, said, “as a leading global high-purity crystalline silicon and solar cell company, Tongwei has always been an important strategic partner of JinkoSolar. Our company has a vertically integrated production capacity with cumulative module shipments exceeding 70GW by the end of 2020.”

“This strategic cooperation will benefit two companies from different segments of the solar industrial chain and strengthen resource sharing and integration within the PV industry, as well as increase industry leadership and dominance of both parties, and jointly create a win-win manufacturing ecosystem,” he further added.

For a more extensive industrial chain cooperation, more priority will be given to the production capacity and products of the joint venture for the high-purity crystalline silicon, in order to meet the production needs of the joint venture silicon wafer company.

JinkoSolar has 9 production facilities globally, 20 overseas subsidiaries, and has built a vertically integrated solar product value chain, with an integrated annual capacity of 20 GW for mono wafers, 11 GW for solar cells, and 25 GW for solar modules as of September 30, 2020.

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