JinkoSolar will stick to its solar manufacturing activities in China now, after completing the sale of its downstream business Jinko Power that is active in the Chinese market. The deal has been concluded in efficient fashion, after the company only made the agreement announcement last month.
The deal is for its 55% equity stake in its subsidiary, Wide Wealth Group Holding, which had been held by Jiangxi JinkoSolar Engineering. The sale was made to Shangrao Kangsheng Technology, which was formed by a buyer consortium led by Xiande Li, who is believed to be financing the deal through personal funds and debt financing.
The Jinko Power business was a move away from Jinko’s more established role as a solar cell and module manufacturer. The downstream business had been mainly concerned with the development and operation of utility-scale solar power plants in China.
The company agreed to sell the downstream business last month, which suggested to industry onlookers that Jinko sees its future in the manufacturing side of the solar industry, rather than the project development side.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.