Solar module manufacturer JinkoSolar says its Shangrao JinkoSolar Industry Development Co. Ltd. subsidiary is investing $48.7 million in Inner Mongolia Xinte Silicon Materials Co. Ltd.
The investment will be used for the construction of a high-purity polysilicon production line with an annual capacity of 100,000 tons.
After the capital increase is completed, Shangrao JinkoSolar will hold a 9% stake in Inner Mongolia Xinte.
“Xinte Energy is a leader in polysilicon technology and industrialized operations. We are very pleased to extend this close partnership with them and remain fully confident about the accelerated growth of the PV industry over the next few years,” says Kangping Chen, CEO of JinkoSolar.
“We believe that this investment is not only a solid growth strategy, but will help to stabilize silicon material supply and reduce supply chain volatility,” Chen adds. “By cooperating with upstream specialized manufacturers, we will continue to strengthen the advantages of our integrated capacity and solidify the foundation for mass production of high-efficiency modules year-over-year.”