Chinese solar giant JinkoSolar, fresh from its acquisition of the manufacturing assets of bankrupt rival Topoint last week, is considering spinning off its downstream business.
A press release issued by the vertically integrated solar company today, which predicts its solar project development portfolio will exceed 500 MW of installed capacity by the end of the year, says its "board of directors has authorized the exploration of strategic alternatives" for the solar palnt development business.
The options to be considered include floating the downstream business or making it available as a potential merger or acquisition target to cash in on the Chinese government's recently restated backing for solar energy although, ironically, such a move would fly in the face of the Beijing government's desire for solar industry consolidation.
JinkoSolar's agreement to lease the manufacturing operations of Topoint from today onwards with a view to acquiring the assets permanently after the ongoing restructure of the bankrupt business by the Haining City Government and Haining City Peoples Court reportedly increased the company's annual production capacity to 2 GW each for silicon ingots, wafers and cells and 2.1 GW for modules.
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