Jinko Solar invests RMB450mn in Tongwei Sichuan Yongxiang to upgrade High-purity Polysilicon production
JinkoSolar Holding Co., Ltd., through its subsidiary Jinko Solar Co., Ltd., plans to invest RMB450 million (US$108.34 million) for equity in Sichuan Yongxiang Energy Technology Co., Ltd., a subsidiary of Tongwei Co., Ltd.
The investment will be used for the construction of a high-purity polysilicon production line with an annual capacity of 100,000 tons. After the capital increase is completed, Jinko Solar Co., Ltd. will hold a 15% stake in the Project Company, the latest update on the strategic partnership between the two parties announced in February 2021.
With the transaction, JinkoSolar will secure a stable supply of nearly 30,000 tons of high-purity polysilicon every year once the project is fully operational, and will share the pro-rata profit allocated by the paid-in capital with the Project Company for the duration of the joint venture.
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