Jinko Solar’s majority-owned subsidiary, Jiangxi Jinko Solar, has proposed plans for production lines with an annual capacity of 56 GW to manufacture monocrystalline silicon pull rods, silicon wafers, high-efficiency solar cells, and modules.

The cell and module manufacturer has entered into an investment framework agreement with the Transformation Comprehensive Reform Demonstration Zone of Shanxi Province in China.

To facilitate a smooth and phased implementation, the project will be executed in four phases, each with an annual production capacity of 14 GW.

The initial two phases are scheduled to commence production in the first and second quarters of 2024, while the remaining phases are targeted for production in 2025.

The specific construction plan and timeline will be subject to market conditions and relevant government approvals, the company said.

Jinko Solar currently holds a majority equity interest of 58.62% in Jiangxi Jinko.

As of March 31, 2023, Jinko Solar operates 14 production facilities worldwide and maintains 24 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, Brazil, Chile, Australia, Canada, Malaysia, the United Arab Emirates, Denmark, Indonesia, Nigeria, and Saudi Arabia.

Recently Jinko Solar‘s net income surged 155% year-on-year to RMB836.4 million ($121.8 million) for the first quarter of the financial year 2023, primarily on higher module shipments.

In January, Al Ghazala Energy Company, the Saudi Arabia-based subsidiary of Jinko Power Technology, achieved financial close and commenced construction of its 300 MW Saad Solar Project in the Kingdom.

In November 2022, the company announced achieving a record maximum solar conversion efficiency of 26.1% in its 182 mm N-type module, which is Jinko’s latest TOPCon (tunnel oxide passivated contact) cell technology.