Tier-one solar manufacturer JinkoSolar has been focusing on improving PV product technologies as well as developing business in the downstream sector. On November 15, the company announced that its PV modules will be entirely PID-free guaranteed. In addition, an equity interest sale in China was also completed.
The entire portfolio of JinkoSolar’s PV modules has passed the 96-hour Potential Induced Degradation (PID) resistance test under the conditions of 85℃degrees and 85% relative humidity ("double 85") at +/-1,000V as required by IEC62804 standards with a degradation of less than 5%. Accordingly, JinkoSolar is the first PV module manufacture in the industry to guarantee anti-PID under double 85 condition with the warranty of less than 5% degradation for its PV modules.
“JinkoSolar's PV solar modules are 100% in compliance with double 85 anti-PID standards and offer the related warranty, which marks a milestone in anti-PID technology development of the solar industry and demonstrates our leading position in the field,” said Mr. Kangping Chen, JinkoSolar's Chief Executive Officer. “We will continue to improve our anti-PID system to generate a better performance under higher voltage and other tougher conditions.”
Sale of Jinko Power
JinkoSolar had planned to sell all of the 55% equity interest in indirectly held in Jiangxi JinkoSolar Engineering (Jinko Power), a China-based solar developer and operator, to Shangrao Kangsheng Technology.
Shangrao Kangsheng Technology is a company formed by a buyer consortium led by Mr. Xiande Li, chairman of the board of directors of JinkoSolar, pursuant to the previously announced Share Purchase Agreement entered into by Wide Wealth Group Holding Limited, a 55%-owned indirect subsidiary of JinkoSolar and the buyer.
As a result of the sale, JinkoSolar spun off its downstream business of Jinko Power and received US$250 million in cash.