JinkoSolar Holding Co., Ltd. and its subsidiary Sichuan Jinko have signed a long-term purchase agreement with second tier subsidiaries of Tongwei Co., Ltd., to ensure a stable supply of polycrystalline silicon in line with JinkoSolar’s strategic and operational plans. This is the first long-term contract with Tongwei for the steady supply of poly-Si, a win-win scenario that will no doubt bring on other advantages for both parties and further promote the development of renewable energy.
Under the agreement, JinkoSolar has locked in nearly 100,000 metric tons of polycrystalline silicon and both parties can negotiate additional purchases. The price for any additional order will be negotiated and determined based on market conditions at that time.
“Building strategic partnerships with suppliers of key raw materials is essential for our business and to raise our competitive edge in the solar industry,” said Kangping Chen, CEO of JinkoSolar. “We are pleased to begin this partnership with an industrial leader like Tongwei, a strategic cooperation that will contribute to the stability of JinkoSolar’s long-term business.”
“JinkoSolar is one of Tongwei’s most trusted customers and we are very pleased to reach a strategic cooperation with a leading PV module manufacturer like JinkoSolar,” said Duan Yong, Director of Tongwei Co., Ltd., Chairman and General Manager of Yongxiang Co. “The signing of this contract is conducive to the stable sales of Tongwei’s high-purity polysilicon products and is in line with our future business strategy. It is also conducive to bringing into play the leading advantages of two major industry players in the PV industry, and to jointly promote the development of the global PV market.”