Jinko Solar Limited has decided to invest $500 million in Vietnam’s Qung Ninh Province to establish a monocrystalline ingot and wafer production facility. The project is expected to have a 7 GW annual capacity.

This is the first PV project launched in the Qung Yên Coastal Economic Zone of Qung Ninh Province. This project obtained local government clearance in early 2021 and is scheduled to open in the first quarter of 2022. As per a company statement, the facility allows for the use of raw material inputs from a number of countries.

Furthermore, to complement the advanced technology and high production processes of  state-of-the-art cell and module operations, the company has chosen industry-leading crystal pulling and wafer slicing equipment. Over the next few years, the firm anticipates demand for clean energy to increase, and it will continue to optimise its worldwide supply chain management to assure a consistent supply of quality modules to its clients.

Jinko Solar 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. As of June 2021, Jinko Solar had developed a vertically integrated solar product value chain with a yearly capacity of 27 GW for mono wafers, 12 GW for solar cells, and 31 GW for solar modules.

REGlobal’s Views: Asia has become the main manufacturing hub for solar cells and modules with China being the dominant player in this space. However, many Chinese players are now planning to set up their manufacturing bases in other countries to diversify their supply chains and ensure its sustainability especially in the current geopolitical climate.