JinkoSolar Reaches Agreement To Take Over Assets Of Zhejiang Topoint

Posted by SI Staff on January 10, 2014 No Comments
Categories : FYI

JinkoSolar Holding Co. Ltd. has reached an agreement to operate the restructured manufacturing assets of Zhejiang Topoint Photovoltaic Co. Ltd., Zhejiang Yutai Photovoltaic Material Co. Ltd., Zhejiang Weishida Photovoltaic Material Co. Ltd. and Zhejiang Jiutai New Energy Co. Ltd., collectively known as Topoint, beginning Jan. 13.

The manufacturing assets of Topoint include 500 MW of capacity for silicon wafers, 500 MW for PV cells and 100 MW for PV modules, according to JinkoSolar.

Topoint is a PV manufacturer with production and research and development facilities located in the Huangwan Industry Park in Haining, Zhejiang Province. It is currently undergoing restructuring under the supervision of the Haining City government and the Haining City People's Court, reports JinkoSolar.

JinkoSolar says it was invited by the bankruptcy administrator and the Haining City government to participate in Topoint's reorganization. Pursuant to a leasing agreement entered into between JinkoSolar and the bankruptcy administrator, the company will operate the manufacturing assets of Topoint starting from Jan. 13 until the completion of the reorganization. After the reorganization, JinkoSolar says it plans to take ownership of Topoint and continue to operate the manufacturing assets.

If JinkoSolar is ultimately approved to become the owner of Topoint upon completion of the reorganization, JinkoSolar's annual silicon wafer and ingot, solar cell, and solar module production capacity will be approximately 2.0 GW, 2.0 GW and 2.1 GW, respectively, according to the company.

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