Mahindra Susten to Develop 150 MW Open Access Renewable Power Project

BJP, Congress Bet Big on Renewables in 2024 Election Manifestos

Daily News Wrap-Up: REIL Invites Bids for 200,000 Mono PERC Solar Cells

Solar, Storage, Wind Drive 95% of US Interconnection Queues as Backlog Rises

Ahasolar Wins Consultancy Contract for 52 MW Solar Project from BPCL

REIL Invites Bids for 200,000 Mono PERC Solar Cells

Daily News Wrap-Up: MNRE Adds 4.1 GW of New Solar Module Capacity to ALMM

MNRE Adds 4.1 GW of New Solar Module Capacity to ALMM

AutoNxt Secures Pre-Series A Funding to Finance Electric Tractor Launch

Daily News Wrap-Up: REC Records Highest-Ever Loan Approvals in FY24


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/05/amazon_polly_54479.mp3?version=1685017200">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Chinese solar cell and module manufacturer <a href="https://www.jinkosolar.com/en/" target="_blank" rel="noopener">Jinko Solar</a> has announced that its majority-owned subsidiary, Jiangxi Jinko, has entered into an agreement for the sale of its complete equity interest in Xinjiang Jinko for a consideration of RMB 4.3 billion ($622 million).</p>
<p>The equity transfer agreement is with Ziyang Major Industry Equity Investment Fund, backed by authorities in the southwestern province of Sichuan, and Dong Shihong, chairman of Suzhou Shijing Environmental Technology.</p>
<p>Jinko Solar holds approximately 58.62% equity interest in Jiangxi Jinko.</p>
<p>Jiangxi Jinko is the principal operating arm of Jinko Solar, primarily dealing with solar manufacturing and exports</p>
<p>Upon the completion of this transaction, Jiangxi Jinko will divest its entire equity interest in Xinjiang Jinko, effectively ending its ownership of the subsidiary.</p>
<p>The agreement, which has been negotiated on fair and customary commercial terms, is expected to reduce operational costs, enhance production efficiency, and optimize its facility mix.</p>
<p>To finalize the disposal, customary closing conditions need to be met, including obtaining the necessary antitrust regulatory approval and the payment of the agreed consideration.</p>
<p>JinkoSolar has 14 production facilities globally and 24 overseas subsidiaries.</p>
<p>Recently, Jinko Solar’s majority-owned subsidiary, Jiangxi Jinko Solar, <a href="https://www.mercomindia.com/jinko-solars-subsidiary-solar-manufacturing-unit" target="_blank" rel="noopener">proposed</a> 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.</p>
<p>The cell and module manufacturer has entered into an investment framework agreement with the Transformation Comprehensive Reform Demonstration Zone of Shanxi Province in China.</p>
<p>For the first quarter of the financial year 2023, Jinko Solar‘s net income<a href="https://www.mercomindia.com/jinko-profit-higher-module-shipments" target="_blank" rel="noopener"> surged</a> 155% year-on-year to RMB 836.4 million ($121.8 million), primarily on higher module shipments.</p>
<p>The company’s module shipments for the January-March quarter increased 62.3% to over 13 GW compared to about 8 GW YoY.</p>
<p>Jinko Solar emerged as the leading module supplier in Mercom’s <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-2023-market-shares-and-profiles" target="_blank" rel="noopener">India Solar Market Leaderboard 2023</a>.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
<br />
<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
</div></div><div class="clearfix"></div></div></div>

Jinko Solar to Sell Unit for $622 Million to Enhance Operational Efficiency

xinjiang-jinko

Get the most relevant India solar and clean energy news.

RECENT POSTS