JinkoSolar has announced that it intends to sign a strategic cooperation agreement with Tongwei to jointly invest in a high-purity crystalline silicon project with an annual capacity of 45,000 metric tons and a silicon wafer project with an annual production capacity of 15GW. The company also announced that the deal will develop a more extensive industrial chain cooperation.
As per the agreement, JinkoSolar will own a 35 per cent equity stake in the 45,000 tons high-purity crystalline silicon project. Tongwei will hold a 30 per equity stake in the 15 GW silicon wafer project. Under the industrial chain cooperation, the production capacity and products of the joint venture for the high-purity crystalline silicon will be given priority. The wafer products produced under the projects will be cost-effective and price competitive.
Adding the previous procurement contract for 93,000 metric tons of polycrystalline silicon, JinkoSolar will supply Tongwei with a total of approximately 6.5GW of silicon wafer products for three years.
JinkoSolar has a vertically integrated production capacity with cumulative module shipments exceeding 70GW by the end of 2020. The company 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, among others.