JinkoSolar announced the sale of its majority stake in its US subsidiary for USD 191.5 million, in a deal that will give FH Capital control of its 2 GW solar module factory in Florida and its battery energy storage systems (BESS) business in the United States .
The agreement stipulates that FH JKV Holdings Limited , a vehicle controlled by FH Capital, will acquire 75.1% of Jinko Solar (US) Industries Inc. , while the Chinese company will retain a minority stake of 24.9% . The transaction also includes industrial expansion plans, with new investments aimed at doubling module manufacturing capacity and launching local production of BESS systems.
The transaction reflects the growing interest in strengthening domestic renewable energy supply chains in the United States, particularly in strategic segments such as solar and storage. FH Capital will seek to position the platform as a national provider of energy solutions, capitalizing on the increasing demand for locally manufactured products eligible for federal incentives.
According to the company, the decision is part of a global restructuring of international assets driven by macroeconomic uncertainty and stricter regulations in the US market. In particular, new rules related to Foreign Entities of Interest (FEOCs) are putting pressure on Chinese manufacturers, as they could limit access to tax credits for clean energy projects that use components considered sensitive.
Nigel Cockroft , managing director of JinkoSolar in the United States, stated: "We believe this transaction provides the right ownership, management, and strategic direction for this new company to increase its capacity and meet the growing demand for high-performance renewable energy products from the United States."
The transaction also highlights the growing importance of energy storage within the renewable energy sector's industrial strategies. In addition to solar expansion, FH Capital plans to develop BESS manufacturing capacity in the United States, betting on a segment that is key to the integration of renewable energy and the stability of electrical grids.
Sanjeev Chaurasia, managing partner of FH Capital and former Credit Suisse executive, highlighted that the operation combines the industrial and technological expertise developed by JinkoSolar in the United States with FH's investment capacity to accelerate a platform focused on domestically sourced solar and storage solutions.
The transaction remains subject to regulatory approvals and customary closing conditions. Morgan Stanley is acting as financial advisor to JinkoSolar, while Latham & Watkins is acting as legal advisor to FH Capital.
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