JinkoSolar Building 7 GW Wafer Plant In Vietnam

• JinkoSolar is expanding and diversifying its ingot/wafer production capacity
• It has started construction of a fab with 7 GW annual capacity in Vietnam's Quang Ninh province
• Project will start commercial operations within next 6 months in Song Khoai Industrial Park

Chinese integrated solar PV module manufacturer JinkoSolar Holding Co., Ltd. is reportedly expanding its ingot/wafer production capacity, by another 7 GW annually in Vietnam in a bid to provide the global markets, especially the growing US, through a non-China supply chain.

JinkoSolar Hongkong Limited has commenced construction of the 7 GW plant in Song Khoai Industrial Park in Quang Ninh province after securing an investment registration certificate in March 2021 from the federal government in March 2021. Back then the developer of the industrial park Amata City Ha Long released a statement to say the fab will have an estimated annual production capacity of $1.2 billion.

The plant may come online within next 6 months to roll out high performance, monocrystalline ingots and wafers. JinkoSolar so far has manufacturing bases in China, the US and Malaysia. The company said it is working on securing better and long-lasting deals with contracted polysilicon suppliers globally, as per its overseas investment strategy to be able to minimize its vulnerability to US-China tensions over trade and technology.

By the end of 2021, JinkoSolar aims to grow its total monocrystalline silicon wafer production capacity to 30 GW, growing it from 22 GW at the end of 2020 (see High Module Prices Impact JinkoSolar's Q1/2021 Revenues).

In the face of growing trade and political tensions between the US and China, including the withhold release orders (WRO) of the US government against Xinjiang made polysilicon, deep pocketed solar PV manufacturers are now contemplating expanding their production facilities outside of China to be able to cater to markets that prefer non-Xinjiang or China made products (see US Government Ban On Xinjiang Produced Solar Products).