JinkoSolar’s Jinko Solar Co. Ltd. (Jiangxi Jinko) subsidiary has agreed to sell its complete 100% equity stake in Xinjiang Jinko Solar Co., Ltd. (Xinjiang Jinko) for CNY 4.3 billion ($609 million). Separately, the group said that it has agreed to build a CNY 56 billion vertical integration base in China’s Shanxi province. JinkoSolar has announced the sale of its complete 100% equity interest in Xinjiang Jinko Solar Co., Ltd. (Xinjiang Jinko) by its subsidiary, Jinko Solar Co., Ltd. (Jiangxi Jinko). The deal, valued at CNY 4.3 billion, will see Ziyang Major Industry Equity Investment Fund Partnership and Shihong Dong acquire the stake. Following the transaction’s completion, Jiangxi Jinko will no longer have any equity interest in Xinjiang Jinko. The agreement was negotiated under normal commercial terms and is expected to reduce operational costs, enhance production efficiency, and optimize facility utilization for Jiangxi Jinko. The sale is contingent upon customary closing conditions, including regulatory approval and payment. Currently, JinkoSolar holds a majority equity interest of around 58.62% in Jiangxi Jinko. Separately, JinkoSolar said that it has signed investment agreements with the local government of Shanxi province to build a vertical integration base. The total planned investment has been estimated at CNY 56 billion. The project consists of four sections that will be completed over a span of 24 months. Each phase will encompass capacity for ingots, wafers, cells, and modules, up to a total of 14 GW. The first phase is scheduled for commissioning in the first quarter of 2024, with the full project to be fully commissioned in 2025. In April, JinkoSolar said that it delivered 10 GW of Tiger Neo modules to major customers in 2022. This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: [email protected]. Save my name, email, and website in this browser for the next time I comment. By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment. Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so. You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled. The cookie settings on this website are set to “allow cookies” to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click “Accept” below then you are consenting to this.