Jinko buys 500MW of cell capacity

Jinko chief executive Chen Kangping

Jinko chief executive Chen Kangping

JinkoSolar will buy Zhejiang Topoint Photovoltaic Co., a bankrupt lower-tier Chinese PV manufacturer, in a further sign of the powerful consolidation process underway in China’s solar industry.

The deal includes 500MW of production capacity for wafers and cells and 100MW for modules – a significant contribution to Jinko, which started 2013 with 1.2GW of ingot-to-module capacity.

Jinko, which describes Topoint’s assets as “technologically advanced and recently purchased”, claims it will have about 2GW-2.1GW of vertically-integrated production capacity after the deal goes through.

Jinko will begin operating Topoint’s plants from today, with the intention of eventually absorbing them into its organisation.

Jinko is the second major Chinese PV manufacturer to publicly acquire sizeable production assets from a lower-tier domestic rival in as many months, following Log in to read complete article.

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