24 Feb 2021

JinkoSolar and Tongwei to Sign Strategic Co-Operation Agreement

24 Feb 2021  by Energy Global   

JinkoSolar Holding Co. Ltd., has announced that it intends to sign a ‘strategic co-operation agreement’ with Tongwei Co. Ltd. to jointly invest in a high-purity crystalline silicon project with annual capacity of 45 000 t and a silicon wafer project with an annual production capacity of 15 GW, as well as develop a more extensive industrial chain co-operation.

According to the agreement, JinkoSolar will own a 35% equity stake in the 45 000 t high-purity crystalline silicon project, while Tongwei will hold a 30% equity stake in the 15 GW silicon wafer project. Under the industrial chain co-operation, the production capacity, and products of the joint venture for the high-purity crystalline silicon will be given priority to meet the production needs of the joint venture silicon wafer company. Wafer products produced under the jointly invested silicon wafer project will be cost effective and price competitive. In addition, based on the previous procurement contract for 93 000 t of polycrystalline silicon, JinkoSolar will supply Tongwei with a total of approximately 6.5 GW of silicon wafer products for three years.

Mr. Kangping Chen, Chief Executive Officer of JinkoSolar, commented, "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 70 GW by the end of 2020. This strategic co-operation will benefit two companies from different segments of the solar industrial chain and strengthen resource sharing and integration within the photovoltaic industry, as well as increase industry leadership and dominance of both parties, and jointly create a win-win manufacturing ecosystem."

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