JinkoSolar has announced that it is to more than triple its planned investment on its new Shanxi plant to RMB 56 billion, among the largest investments in solar industry history.
The first phase of the project, comprising 14GW of ingots, wafers, cells and modules, is scheduled to be operational in Q1 2024 and will manufacture more advanced and efficient TOPCon products than are currently available on the market. It is estimated that 20% of global N-type products will be produced at the plant once it reaches its full capacity of 56GW in 2025.
The increased investment is a big step for Jinko and follows N-type TOPCon being adopted by almost all key manufacturers to become mainstream.
“Efficiency, power performance improvement and the cost optimization roadmap have all played a massive role in the TOPCon boom, which gives us confidence in the technology,” commented VP Dany Qian at the recently concluded SNEC.