JinkoSolar’s Subsidiary Jiangxi Jinko Signs Project Investment Cooperation Framework Agreement for 30 GW Monocrystalline Silicon Pull Rod Project in Qinghai, China

PVTIME – JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, announced on March 18 that its principal operating subsidiary, Jinko Solar Co., Ltd. (“Jiangxi Jinko”), has entered into a project investment cooperation framework agreement (the “Agreement”) with Qinghai Provincial Department of Industry and Information Technology, Xining Municipal Government and Xining Economic and Technological Development Zone Management Committee (the “Counterparties”) for a joint monocrystalline silicon pull rod project.

According to the Agreement, Jiangxi Jinko plans to build monocrystalline silicon pull rod production lines with a total annual production capacity of 30 GW in Xining city, Qinghai province, and the total estimated investment is approximately RMB10 billion. This project will be constructed in two phases. In the first phase, Jiangxi Jinko plans to build a production line with an annual production capacity of 20 GW, with an estimated investment of approximately RMB7 billion. The construction of the first phase will commence in April 2022. In the second phase, Jiangxi Jinko plans to construct a production line with an annual production capacity of 10 GW in 2023 to 2024 with an estimated investment of approximately RMB3 billion. The detailed plan and schedule for the project will be subject to market conditions. According to the Agreement, Jiangxi Jinko will build the production lines in the designated area and will enjoy certain preferential policies provided by the Counterparties.

Mr. Kangping Chen, CEO of Jiangxi Jinko commented, “We are delighted to embark on this project with the strong support of all the Counterparties. As the demand for solar energy continues to grow globally, developing our own production of monocrystalline silicon pull rods will not only strengthen our in-house production capabilities, but also is a great leap forward in our commitment to support the pledge for carbon neutrality globally. At the same time, we are proud of continuing to deliver the highest quality products and improving the efficiency of our solar technology to meet the needs of all our customers.”

JinkoSolar currently owns approximately 58.62% equity interest in Jiangxi Jinko.