JinkoSolar Holding Co. Ltd., one of the world’s largest solar module manufacturers, has started the construction of a US$365.6 million plant in Vietnam to make silicon wafers for its US$500 million solar photovoltaic cell facility in the country, as well as its other facilities in Malaysia and the United States.
Both projects are located in the northern province of Quang Ninh’s Song Khoai Industrial Park developed by Amata Corp Pcl, Thailand’s biggest developer of industrial estates.
JinkoSolar began work on the solar PV cell facility in April on 32 hectares of land in the industrial park, calling it JinkoSolar 1. On September 19, it received an investment registration certificate for the second project, called JinkoSolar 2. The 7-gigawatt wafer production facility, which will cover 20 hectares, is set to produce the first products this December, and will also serve research and development (R&D) tasks.
It is designed to initially manufacture annually about 1.43 million silicon ingots and wafers, the material used for producing semiconductors and electronic devices. Once operational, JinkoSolar 2 will have about 2,200 workers, technicians, and experts.
Meanwhile, JinkoSolar 1 is expected to begin operations this October, creating around new 2,250 jobs for local workers and projected to generate US$1.3 billion in annual revenue.
Quang Ninh – home to both projects – borders China, where the global manufacturer comes from. The province attracted US$1.07 billion in foreign direct investment between January and September, much higher than US$398 million in the same period last year. It expects some US$1.2 billion by the year-end.
This August, JinkoSolar and Ho Chi Minh City-based Solar Z, one of its major distributors in Vietnam, empowered the rooftop of a factory of Sabeco, Vietnam’s largest brewery, with its 2-megawatt Tiger Pro 535W panels. The brewery, better known in the country under the name of Beer Saigon, is seriously carrying out an environmental stewardship scheme, which helps them reduce their electricity cost.
Shanghai-based JinkoSolar, listed as JKS on the New York Stock Exchange, announced second-quarter 2021 unaudited results on September 15, saying its total shipments, including solar modules, cells and wafers, rose 16.4% to 5,203 megawatts from a year ago. However, net profit dropped 79.2% to 66.2 million yuan (US$10.3 million), mainly because of the impact of convertible senior notes.
The second facility in Vietnam will supply silicon wafers to JinkoSolar’s cell and module facilities in Malaysia and the US starting next year. Including the latest factory, the Chinese company has 10 production facilities globally.
