Private equity firm, FH Capital, has entered into a definitive agreement to acquire a 75.1% stake in China-based solar module and cell manufacturer, JinkoSolar’s U.S. subsidiary.

Post-acquisition, JinkoSolar will hold a 24.9% minority stake in its U.S. subsidiary, Jinko Solar Industries.

The company did not disclose the cost of acquisition.

Through this transaction, FH Capital, a private equity firm focused on growth-oriented clean energy investments, will acquire controlling ownership of a 2 GW solar module manufacturing facility and a growing battery energy storage system business.

FH Capital plans to deploy additional expansion capital to double the facility’s solar module manufacturing capacity and to initiate domestic manufacturing of battery energy storage systems.

The transaction is subject to customary closing conditions and regulatory approvals.

As of March 31, 2026, JinkoSolar has over 10 production facilities globally, over 20 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the U.S., and Mexico.

In Q1 2026, Jinko’s total module shipments were approximately 13.7 GW, with overseas markets accounting for over 80% and shipments to the U.S. accounting for approximately 4%.  Its shipments of energy storage systems rose by more than 350% YoY to 1.42 GWh, and its signed and high-potential orders exceeded 10 GWh.

The company is also expanding its footprint in the distributed solar market and entering diverse niche application scenarios that align with rising global power demand and shifts toward cleaner, more distributed energy systems.

In 2026, Jinko’s module shipments are expected to be within the range of 75 and 85 GW and 14-16 GW in Q2 2026. Over 60% of the shipments are expected to have modules exceeding 640 W.

According to Mercom Capital Group’s Q1 2026 Solar Funding and M&A Report, 28 solar corporate M&A transactions were recorded during Q1 2026, representing a 47% increase from 19 transactions in Q1 2025 and a 33% rise from 21 transactions in Q4 2025.