As per the agreement, JinkoSolar will own a 35 percent equity stake in the 45,000 tons high-purity crystalline silicon project, while Tongwei will hold a 30 percent equity stake in the 15GW silicon wafer project.
FREMONT, CA: JinkoSolar, one of the largest and most innovative solar module manufacturers in the world, has announced that the Company plans to sign a "strategic cooperation agreement" with Tongwei Co. – to jointly invest in a high-purity crystalline silicon project with annual capacity of 45,000 metric tons and a silicon wafer project with an annual production capacity of 15GW, and also develop a more extensive industrial chain cooperation.
As per the agreement, JinkoSolar will own a 35 percent equity stake in the 45,000 tons high-purity crystalline silicon project, while Tongwei will hold a 30 percent equity stake in the 15GW silicon wafer project. Under the industrial chain cooperation, the production capacity and products of the joint venture for the high-purity crystalline silicon will be prioritized to fulfill the production requirements of the joint venture silicon wafer company. Wafer products produced under the jointly invested silicon wafer project will be cost-efficient and price competitive. In addition, on the basic the previous procurement contract for 93,000 metric tons of polycrystalline silicon, JinkoSolar will supply Tongwei with a total of nearly 6.5GW of silicon wafer products for three years.
Mr. Kangping Chen, Chief Executive Officer of JinkoSolar, stated, "As a leading global high-purity crystalline silicon and solar cell company, Tongwei has always been an important strategic partner of JinkoSolar. Our Company has a vertically integrated production capacity with cumulative module shipments exceeding 70GW by the end of 2020. This strategic cooperation will benefit two companies from different segments of the solar industrial chain and strengthen resource sharing and integration within the PV industry, as well as increase industry leadership and dominance of both parties, and jointly create a win-win manufacturing ecosystem."