- Jinchen and Waaree Energies have signed a 10 GW module production equipment deal
- With this high efficiency automatic production line, Waaree will be able to expand its capacity from current 12 GW capacity in Gujarat
- Jinchen said this contract represents its largest overseas deal to date
Chinese solar PV equipment manufacturer Jinchen Co Ltd has secured its biggest overseas deal ever for 10 GW high efficiency PV module automatic production line from its existing customers Waaree Energies Ltd, a deal that shows the remarkable development of India’s solar manufacturing industry.
Waaree says it operates 12 GW solar panel manufacturing capacity, India’s largest, in Surat and Umbergaon in Gujarat state of India. It has access to over 20 international markets where it exports its modules. The Jinchen deal will expand its total capacity to 22 GW.
As a winner of the Indian government’s flagship Production Linked Incentive (PLI) scheme round 2, Waaree plans to go for vertical integration and set up 6 GW of wafer-cell-module manufacturing capacity (see India Allocates 39.6 GW PV Under PLI Tranche-II).
For Jinchen, this is not its 1st contract from Waaree as it has already delivered 10 GW capacity to the Indian company since 2017 with the last order announced in August 2022 (see China PV News Snippets). It has not revealed delivery timeline, module technology or financial terms of the latest Waaree deal.
The deal between the duo was signed at the recently concluded SNEC PV Power Expo 2023 in Shanghai, China where TaiyangNews held a series of exclusive interviews with Chinese PV industry big-wigs as part of TaiyangNews & SNEC Solar Leadership Conversations. The interviews are available on our YouTube Channel.
Recently, Jinchen also signed a 500 MW n-type TOPCon production deal at SNEC with another Indian module maker Gautam Solar (see Indian Manufacturer Wants TOPCon Tech).