JinkoSolar to Invest ~$48.64 Million to Boost Polysilicon Production Capacity

Solar module manufacturer JinkoSolar Holding has announced that its holding subsidiary, Shangrao JinkoSolar Industry Development, plans to invest RMB315 million (~$48.64 million) in equity in Inner Mongolia Xinte Silicon Materials Company – a wholly-owned subsidiary of Xinte Energy Company.
The investment will be used to construct a high-purity polysilicon production line with an annual capacity of 100,000 tons. Once the transaction is completed, the company will hold a 9% stake in Inner Mongolia Xinte.
Kangping Chen, CEO of JinkoSolar, commented, “We believe that this investment is a solid growth strategy and will help stabilize silicon material supply and reduce supply chain volatility. In addition, by cooperating with specialized upstream 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.”
Earlier in April this year, JinkoSolar told Mercom that the spiraling prices of raw materials like glass, polysilicon, and silver since the second half of 2020 have led to a sharp increase in the prices of solar modules. As a result, supply constraints could continue until the second half of this year, and the current prices of modules were the best that can be projected for the next six months or even longer.