Chinese solar panel maker JinkoSolar Holding Co. has announced a $500 million investment into Vietnam to build a manufacturing facility in the northern province of Quang Ninh.
The new facility is set to be operational in the first quarter of next year and has an annual capacity of 7 gigawatts, the company stated Monday.
It will produce panel components including ingots and wafers.
“The decision to build a facility in Vietnam is one component of our strategy to ensure the long-term stability of our global supply chain,” said Nigel Cockroft, general manager of JinkoSolar U.S. Inc.
The company has nine manufacturing facilities globally and 22 overseas subsidiaries.
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