Benzinga | Sep 27, 2021 08:04AM EDT

JinkoSolar Invests $500M To Build Manufacturing Facility In Vietnam

* JinkoSolar Holding Co Ltd (NYSE:JKS) is investing $500 million to build a monocrystalline ingot and wafer manufacturing facility in Qung Ninh Province, Vietnam.

* JinkoSolar has begun to work on the facility that will likely have an annual capacity of 7GW to support its existing overseas production facilities.

* The local government approved the PV project in early 2021 and would likely be operational in Q1 2022.

* Price Action: JKS shares traded higher by 0.78% at $42.67 in the premarket session on the last check Monday.