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中国晶科能源拟以1.92亿美元出售其在美国电厂的控股权，以避免监管风险 2026-05-11
Jinko Solar said it will sell its controlling stake in its solar module factory in Florida for USD192 million to mitigate regulatory risks from the US government while ensuring the world’s largest solar panel supplier can continue benefiting from local growth opportunities.
Jinko Solar's US subsidiary will sell a 75.1 percent stake in Jinko Solar US Industries to FH JKV Holdings, reducing its stake to 24.9 percent, the Shanghai-based parent company announced late on May 8. The plant has an annual production capacity of 2 gigawatts.
Several other Chinese solar companies had already taken steps to divest their equity in US assets, keeping their stakes below 25 percent to avoid regulatory restrictions imposed by the US One Big Beautiful Bill Act concerning Chinese ownership in solar assets.
Upon completing the deal, Jinko Solar US Industries will no longer be included in Jinko Solar's consolidated financial reports, according to the company.
FH JKV Holdings is backed by FH Capital, a private equity fund registered in the US that focuses on growth-oriented investments in clean energy projects, which has previously invested in US solar battery manufacturer ES Foundry and leading solar energy storage project developer Delaware River Solar, Jinko Solar said.
FH Capital will become the controlling shareholder of the factory, providing support for its compliant operation and stable development in the US, Jinko Solar pointed out.
The deal would allow Jinko Solar to recover its initial investment in the plant and ensure that it continues to benefit from equity dividends generated by its future operations, the company noted.
Jinko Solar began building the solar module factory in Jacksonville in 2018. Its total investment topped USD214 million after two expansions.
The plant's audited operating revenue was CNY8.6 billion (USD1.3 billion) last year, with a net profit of CNY1.3 billion, Jinko Solar noted. For the first quarter of this year, the income reached CNY689 million (USD100 million), while the profit was only CNY36.7 million (USD5.4 million).
Jinko Solar is selling its profitable assets in the US while facing intense competition in the Chinese solar market and still dealing with significant losses. Its net loss topped CNY6.9 billion in 2025 on revenue of CNY65.4 billion (USD9.6 billion), with its loss reaching CNY1.4 billion last quarter on income of CNY12.2 billion.
Among the other leading Chinese solar firms to sell part of their US assets, Trina Solar divested its controlling stake in a 5 GW solar module factory in Texas in November 2024, retaining only a 17.4 percent stake, while JA Solar Technology sold its entire 100 percent stake in a 2 GW plant in Arizona to Corning last August.
Source: Yicai Global
