JinkoSolar Holding Co., Ltd. today announced it is expanding its mono wafer production capacity with the construction of a new greenfield 5GW mono wafer production facility in Leshan, Sichuan Province, China. The Company's mono wafer capacity was 5.7GW as of December 31, 2018, which increased to 6.5GW as of March 31, 2019 through improvements in both production output and efficiency. The new facility is expected to increase the Company's mono wafer capacity from 6.5GW to 11.5GW upon completion.
The Company has signed an investment agreement and completed feasibility reports and project design planning for the Sichuan production facility. The new facility is currently under construction and is expected to begin production in third quarter of 2019 and reach full capacity in the fourth quarter of 2019.
Kangping Chen, Chief Executive Officer of JinkoSolar, commented, "Global demand for high-efficiency mono products is increasing significantly with technology facilitating the shift from multi-based products to mono ones. We believe the new mono wafer production facility will enable us to greatly benefit from this growing demand. Our new production facility will serve as a leading benchmark for the industry to emulate with its industry-leading cost structure and cutting-edge technologies. We expect the added mono wafer capacity from this new facility to significantly increase the proportion of self-produced high efficient products and improve overall profitability."