Biggest Solar Panel Maker Doubles Capacity With New Plant

(Bloomberg) --

JinkoSolar Holding Co., the world’s biggest solar panel maker, started operations at the first phase of a massive 11 billion yuan ($1.6 billion) factory in China’s eastern Zhejiang province that will eventually double its manufacturing capacity.

When finished, the entire plant is designed to produce 16 gigawatts of panels a year in Yiwu city, a division of the local government said on its WeChat account on Saturday. That’s equivalent to the total panel capacity JinkoSolar had at the end of last year.

The company started operating the first phase of the venture, with an annual capacity of 4.8 gigawatts, according to the statement. Construction of the second and final phase of the project is expected to start this August and be completed in February 2022.

JinkoSolar is among several Chinese top solar manufacturers, including LONGi Green Energy Technology Co. and Tongwei Co., to ramp up production capacity to cut costs and grab market share.

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With assistance from Bloomberg