JinkoSolar Plans New 5 GW Mono Wafer Fab

JinkoSolar To Construct 5 GW New Greenfield Mono Wafer Production Facility In China’s Sichuan Province; Secures 10.7 GW Orders For 2019 With Vast Majority Coming In From Overseas
04:47 AM (Beijing Time) - 01. May 2019
jinko wafer expansion

At the end of December 2018, JinkoSolar had 5.7 GW of mono wafer production capacity, which it increased to 6.5 GW by March 31, 2019. Now, with the new 5 GW fab coming up, before 2019 ends JinkoSolar’s cumulative mono wafer capacity will increase to 11.5 GW.

Key Takeaways

  • In line with the company’s plans to have 15 GW of total module production capacity by 2019-end, JinkoSolar is working on a new 5 GW mono wafer production facility
  • The greenfield fab is already under construction in Leshan, Sichuan province of China and is expected to enter commercial operations by Q4/2019
  • JinkoSolar has also secured 10.7 GW worth of orders for 2019 with bulk of these coming from outside China including Vietnam, Mexico and Spain
  • In China, it sees installation activity to accelerate during second half of 2019
  • Most of the orders relate to its high efficiency products as Cheetah and Swan bifacial modules

China headquartered global solar module supplier JinkoSolar Holding Co., Ltd. has announced big expansion plans for its mono wafer production capacity. It will construct a new greenfield mono wafer production facility with 5 GW capacity in Leshan, Sichuan province of China.

With this 5 GW coming online, JinkoSolar will have 11.5 GW of total mono wafer capacity upon completion by the end of 2019. This will be a huge step up from 6.5 GW it reported till March 31, 2019. The announcement is in line with the roadmap the management shared in March 2019 when it said the company plans to have 15 GW of total module production capacity by 2019-end, which will include 11 GW mono-wafer (see JinkoSolar Eyes 15 GW Solar Module Production In 2019).

The planned 5 GW fab is currently under construction, will start rolling out wafers in Q3/2019 and reach full capacity in Q4/2019. Investment agreement, feasibility reports and project design for the Sichuan production facility are all in.

In a separate announcement, JinkoSolar also said the company has already punched in orders worth 10.7 GW for 2019. A trend that reflects its growing diversity of geographical footprint, the management clarified that the vast majority of these secured orders are from the overseas with fixed terms and conditions. It signed several large supply agreements in Vietnam, Mexico and Spain specifically among other markets.

In China, it expects demand to pick up during H2/2019. It particularly mentions its high efficiency products Cheetah and Swan bifacial modules to be much in demand. In 2019, it expects to ship 15 GW, according to the guidance offered by the company during its full year 2018 results announcement.

Leveraging our large geographic footprint, we were able to rapidly benefit from the accelerating shift towards high-efficiency mono panels and secure over 10.7 GW orders for 2019 in record time. With grid parity approaching, we find ourselves in a very strong position in an otherwise highly competitive industry,” said Chief Marketing Officer of JinkoSolar, Gener Miao.

JinkoSolar wafer expansion comes at a time the world’s largest mono wafer producer LONGi Solar announced its plans to have a whopping 65 GW of ingot/wafer production capacity by the end of 2021 but is strongly heading downstream as well, with plans to nearly double module capacity to 16 in 2019. (see LONGi 2018 Revenues Went Up 34.38%).

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani