Solar market: JinkoSolar and Tongwei join forces

Solar market: JinkoSolar and Tongwei join forces

The solar market is expected to return to significant growth in the coming years. This dynamic motivates the actors. In response, JinkoSolar, the world’s largest solar module manufacturer, has signed a strategic cooperation agreement “. with Tongwei. The objective is to invest in common projects. This is in order to cooperate at the level of the industrial chain, especially in the supply of silicon.

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The solar market confirms its Chinese leaders

Production of crystalline silicon and silicon wafers

The solar market will be strengthened by the cooperation between two major players in the sector. The agreement signed between the two Chinese companies Jinkosolar and Tongwei will allow them to jointly invest in a first high purity crystalline silicon project with an annual capacity of 45,000 tons.

A second silicon wafer project with an annual production capacity of 15 GW is also planned. The cooperation of both parties to the agreement will also be developed at the level of the industrial chain.

Mr. Kangping Chen, CEO of JinkoSolar, said:

“As a global leader in high-purity crystalline silicon and solar cells, Tongwei has always been an important strategic partner of JinkoSolar.”

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Cost-effective and competitive silicon wafers

JinkoSolar will hold a 35% stake in the 45,000 ton high purity crystalline silicon project. For its part, Tongwei will hold a 30% stake in the 15 GW silicon wafer project. Thus, the high-purity crystalline silicon resulting from their cooperation will be used primarily to produce the joint venture’s silicon wafers.

For Mr. Kangping Chen:

“This strategic cooperation will benefit two companies from different segments of the industrial chain Solar and will enhance resource sharing and integration within the PV industry, while increasing industry leadership and dominance by both parties, and jointly creating a win-win manufacturing ecosystem.”

Demand in the Chinese solar market is expected to grow steadily in the coming years. This dynamic then positions Chinese companies as market leaders on a global scale. This strategic partnership between 2 industry leaders should further increase their dominance over the competition.

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