JinkoSolar (Jinko), one of the world’s leading suppliers for PV modules, formally begins the construction of its new production plant in China’s Anhui Province on October 19. A groundbreaking ceremony was held at the plant site on the same day. The attendees of the event included the followings: Yu Aihua, member of the standing provincial committee of Anhui and secretary of municipal committee of Hefei; Yuan Fei, member of the standing municipal committee of Hefei; Chen Jinwei, COO of Jinko; and Li Xiande, chairman of Jinko. Yu officially announced the start of the construction, while Yuan and Chen delivered remarks.
Yuan praised Jinko for being a leader in the global PV industry and executing a local manufacturing project that offers world-class technologies as well as high production efficiency. He added that the company has been very cooperative in supporting policies related to capping carbon emissions and transitioning the country toward carbon neutrality. By aligning with the general direction of the national energy strategy, Jinko is expected to further widen its market prospect and significantly increase its growth potential.
Yuan also said that he hopes the government agencies of Hefei and Feidong County will be committed to supporting the construction of the plant by maintaining a friendly business environment and providing services that ensure construction is being carried out as efficiently as possible. This way, Jinko will be able to quickly establish local production capacity and meet its production volume targets. Yuan expects the plant to become a key hub for the new energy supply chain at both the provincial and national levels.
Chen in his remarks stated that Jinko deeply appreciates the support from Hefei with respect to the landing of this project. He pointed out that the city has a very bright outlook for the growth of its PV industry. Going forward, Jinko will work hard and pull schedule forward with respect to building up production capacity, reaching production volume targets, and generating local economic benefits. The company will seek to make Hefei’s PV industry bigger than ever before and contribute more to the development of the national green economy.
Jinko has consistently been recognized as one of the top c-Si PV module suppliers in the world. In addition to selling products, the company has been involved in the development of PV power plants. The production plant that is now under construction resides within the Hefei Circular Economic Development Zone. It will have an annual production capacity of 16GW for high-efficiency cells and another annual production capacity of 16GW for modules. The developers of this project are Jinko’s local subsidiaries, and the total investment is projected around RMB 20 billion. Once in operation, the whole plant is expected to generate an annual revenue of RMB 45 billion and employ about 8,000 workers.
Moreover, the plant is deemed as a “green, zero-emission manufacturing base” and has the following seven operational targets to attain: (1) the most advanced equipment, (2) the most cutting-edge technologies, (3) the highest level of automation, (4) the highest level of efficiency, (5) the lowest cost, (6) the shortest project development duration, and (7) the largest production scale.
Jinko is currently preparing for an IPO on the Shanghai Stock Exchange. Jinko Solar Co. Ltd., which is the principal operating subsidiary of JinkoSolar Holding Co. Ltd., has estimated that its revenue for the first nine months of 2021 reached RMB 23.6-23.8 billion. To spread the risk related to geopolitical factors, Jinko is also investing around US$500 million in a new production facility in Vietnam and has arranged a long-term polysilicon contract with German supplier Wacker.