JinkoSolar’s New 7 GW Ingot/Wafer Facility in Vietnam to Strengthen the Sustainability of its Global Supply Chain by 2022 – EQ Mag Pro
JACKSONVILLE, Fla : JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that the Company is investing $500 million to build a monocrystalline ingot and wafer manufacturing facility in Quảng Ninh Province, Vietnam.
JinkoSolar has begun to work on the facility, which is expected to have an annual capacity of 7GW to support its existing overseas production facilities. JinkoSolar is committed to ensuring the long term stability of its global supply chain and reliable sales network.
As the first PV project launched in the Quảng Yên Coastal Economic Zone of Quảng Ninh Province, the facility is fully aligned with local development goals for clean and environmentally friendly industries. The project received approval from the local government in early 2021 and is expected to be operational in the first quarter of 2022.
Mr. Nigel Cockroft, General Manager of JinkoSolar (U.S.) Inc. commented, “The decision to build a facility in Vietnam is one component of our strategy to ensure the long-term stability of our global supply chain. This facility enables the use of raw material inputs from a variety of countries, thus increasing the amount of local content used in our modules, and especially in the modules produced in the Jacksonville, Florida facility.
We have accumulated years of experience in the construction and management of global production facilities, while refining and cultivating an employee-oriented workplace environment to foster continuous innovation. For this project, we selected industry-leading crystal pulling and wafer slicing equipment to match the advanced technology and high production processes of our state-of-the-art cell and module plants.
We expect demand for clean energy to continue to accelerate over the next few years and will continue to optimize our global supply chain management to ensure the steady supply of premium modules to our customers.”
“This country needs a smart approach to energy policy, and Jacksonville-based JinkoSolar US is providing good, high-paying jobs in a state-of-the-art solar facility,” said Congressman John Rutherford (R-FL). “I congratulate them on their efforts to provide a U.S. supply chain which increases business certainty and ensures JinkoSolar US will continue to flourish in Jacksonville.”
“I am proud to have a leader in renewable energy in my own backyard, employing hundreds of Floridians at its facility,” said Congressman Al Lawson (D-FL). “With this new $500 million announcement, JinkoSolar US is clearly committed to a supply chain that helps realize the energy goals of the Biden Administration.”
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 27 GW for mono wafers, 12 GW for solar cells, and 31 GW for solar modules, as of June 30, 2021.
JinkoSolar has 9 productions facilities globally, 22overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United States, Mexico, Brazil, Chile, Australia, Portugal, Canada, Malaysia, UAE, Hong Kong, Denmark, and global sales teams in China, United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi Arabia, Tunisia, Morocco, South Africa, Costa Rica, Colombia, Panama, Kazakhstan, Malaysia, Myanmar, Sri Lanka, Thailand, Vietnam, Poland and Argentina, as of June 30, 2021.