Leading module manufacturer Jinko Solar has signed an agreement to build a 11 GW high-efficiency solar cell and 15 GW high-efficiency module facility in Haining, a city in China’s Zhejiang province.
A 10 GWh energy storage integration system and a 10 GWh battery cell factory are also included in the agreement, which was signed on Tuesday with the local government of Haining.
The total investment is around RMB 18.68 billion.
After the completion of the projects, Jinko Solar is projected to achieve RMB 25 billion annual output value on the energy storage facility, and RMB 30 billion on the high-efficiency cell and module project.
Jinko Solar has been taking big steps in production expansion in the past year.
In March 2022, the company invested RMB 10.8 billion in the construction of a 24 GW high-efficiency module and a 100,000-ton PV module aluminum frame project.
In November, an RMB 10 billion fundraising plan was announced to support the construction of an 11 GW high-efficiency solar cell facility, 16 GW module production lines, and a 20 GW wafer manufacturing facility.
By the end of 2022, Jinko Solar’s total production capacity of mono wafer, solar cell, and solar modules has reached 65 GW, 55 GW, and 70 GW respectively, according to Jinko Solar.
The majority of newly added solar cell capacities have adopted TOPCon technology. The overall conversion efficiency of its commercial cells has exceeded 25%, consolidating the leading position of Jinko Solar in the commercialization of next-generation solar cell technologies.
In the first three quarters of 2022, Jinko Solar has reportedly shipped 28.5 GW of modules globally, up by 91.5%.
The shipment volume of the fourth quarter is expected to fall between 13 GW-15 GW, which means its total shipment in 2022 will exceed 40 GW.
