JinkoSolar to invest US$70m in 100,000MT Tongwei polysilicon plant

Facebook
Twitter
LinkedIn
Reddit
Email
Once constructed, the plant will produce 100,000MT of ‘high-purity’ polysilicon a year, with 30,000MT going to JinkoSolar. Image: Tongwei

‘Solar Module Super League’ manufacturer JinkoSolar is to invest RMB450 million (US$70.3 million) in Tongwei Solar subsidiary Sichuan Yongxiang Energy Technology to help finance a 100,000MT high-purity polysilicon facility.

In return for the investment to help construct the plant, Jinko will receive 30,000MT of polysilicon per year and will “share the pro rata profit allocated by the paid-in capital” with Sichuan Yongxiang for the entirety of the joint venture.

The initial agreement was announced in November 2020 and, at the time, Tongwei said the contract would run until December 2023. No updated was provided in today’s announcement.

The plant was announced back in July, when Tongwei signed an agreement with Leshan City, Sichuan Province to establish two 100,000MT polysilicon manufacturing facilities, with the first to be completed by the end of 2022.

Once finalised, the transaction will see Jinko’s operating subsidiary, Jinko Solar Co., hold a 15% stake in the Sichuan Yongxiang, according to a February update on the partnership.

“The strategic investment into this new high-purity polysilicon production line based in Leshan, Sichuan Province, is beneficial because it is geographically close to JinkoSolar’s major mono wafer production facilities,” said Kangping Chen, CEO of JinkoSolar, adding that the agreement would guarantee the company’s long-term wafer and module production.

Polysilicon prices have been rising since February, with knock-on effects on modules prices, causing uncertainty and delays along the entire solar supply chain. The price hikes were caused by several factors and saw polysilicon suppliers plan more capacity expansions to combat the rising prices.    

PV Tech Premium’s Price Watch has examined what the ‘peak polysilicon price’ might be amid the unforeseen and ‘unprecedented’ issues that have emerged over the past few months.

Just yesterday (2 November), JinkoSolar launched its new series of ultra-efficient, n-type PV modules, dubbed the Tiger Neo that it claimed has a conversion efficiency of up to 22.3%.

11 October 2022
PV CellTech Extra will be held as a series of live webinars and on-demand sessions on 11-13 October 2022. We'll be taking a slightly further forward-looking view at the technologies and roadmaps for new cell architectures set to dominate mass production during 2023-2025 with special emphasis on the potential timelines for technologies beyond the single-junction cell design, including perovskite and hybrid concepts.
18 October 2022
The global PV market is entering a new era at unprecedented speed. The demand for high-power PV modules has soared, while interest in the future direction of solar technologies has intensified. Tongwei wants to create discussions between EPC companies, investors, and distributors, especially in Europe, which the company sees as a key growth market. Understanding the opinions and needs of clients in terms of shingled or N-type technology, as well as larger module size, is vital to Tongwei’s success in Europe and beyond. In this PV Tech TechTalk webinar, experts from TÜV NORD and Tongwei's CTO will discuss the risk analysis and reliability of the company’s shingled module technology and its applicability to different European markets.

Read Next

September 27, 2022
Tongwei has announced plans to sign an investment agreement to develop a 25GW high-efficiency PV module manufacturing base in China
September 22, 2022
The RE+ tradeshow has been full of hope, excitement but also short-term questions as the industry considers the significance of the IRA.
September 14, 2022
US utility-scale service provider Borrego has launched a new solar and battery storage procurement marketplace and optimisation solution called Anza.
September 13, 2022
JinkoSolar has signed two major polysilicon supply contracts worth nearly US$30 billion in the past two weeks as it looks to lock in supply.
September 12, 2022
Renewables developer Amp Energy India has formed a joint venture (JV) with Websol Energy Systems Ltd. for manufacturing up to 1.2GW of monocrystalline PERC solar cells and modules in the north-western Indian state of West Bengal.
September 12, 2022
Solar Module Super League (SMSL) member LONGi has released a new half-cut cell module version to its HiMO5 product range that has been designed specifically for the European market.

Subscribe to Newsletter

Upcoming Events

On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)
Solar Media Events
November 29, 2022
Malaga, Spain