Solar Industry Leader Takes Control with $1.3 Billion Factory Sale as Jinko Solar Responds to Retain US Market

Jinko Solar, a leading player in the solar industry, announced a new deal involving the sale of 75.1% equity in its US factory for $191.5 million to FH JKV Holdings Limited. This transaction, valued at approximately $1.3 billion in Chinese currency, will grant FH ownership of the majority stake in the factory. Notably, FH is a newly established entity, with Australian national Zhang Wei as its ultimate controller. The sale is seen as a strategic move by Jinko Solar to optimize its overseas asset allocation and safeguard its long-term presence in the US market. The decision to divest the highly…