JinkoSolar has completed 2022 with 44.5GW of photo voltaic modules shipped globally and expects to have 60% of all shipments in 2023 from its n-type merchandise.
The ‘Photo voltaic Module Tremendous League’ (SMSL) member is aiming to complete 2023 with mono wafer, cell and module capacities of 75GW, 75GW and 90GW, respectively, thus persevering with with its capability enhance throughout the provision chain from final yr and including 20GW of module capability from the earlier quarter’s goal of 70GW.
JinkoSolar ended 2022 with photo voltaic wafer, cell and module capacities of 65GW, 55GW and 70GW respectively because it continues its shift to n-type tunnel oxide passivated contact (TOPCon) modules.
The corporate began the manufacturing of 35GW of TOPCon capability in 2022 and expects to finish this yr with an annual manufacturing capability of 55GW in 2023.
The corporate continues to progressively shift in direction of TOPCon modules with the second section of its 8GW facility in Hefei reaching full manufacturing throughout This autumn 2022 and the second section of the 11GW annual TOPCon cell capability in Jianshan anticipated to achieve full manufacturing in March 2023.
Furthermore, the corporate doubled its yearly module cargo from 22.2GW in 2021 to 44.5GW final yr, because it ended This autumn 2022 with 16GW of modules shipped, of which 7GW from its n-type merchandise.
The elevated demand for the SMSL member’s modules got here primarily from China and Europe with module shipments almost trebling and doubling respectively year-on-year, whereas each markets accounted for greater than 65% of complete shipments final yr.
Concerning the US market and the Uyghur Compelled Labor Prevention Act (UFLPA) that went into impact on 21 June 2022 – and has been hit with module cargo delays because of required customs clearances – the corporate expects to “allocate extra capability and shipments to the US as soon as all the shopper clearance is again to a traditional standing, which we imagine might occur quickly,” mentioned Li throughout an analyst convention name.
As the corporate’s module shipments proceed to develop, income throughout This autumn 2022 was as much as US$4.4 billion, a rise of 55.8% sequentially and 85.5% year-on-year. The SMSL member completed its monetary yr 2022 with a income of US$12.1 billion, virtually doubling the income registered in 2021.
After the current value adjustments in polysilicon that dropped considerably to RMB130/kg (US$18.94/kg) initially of the yr – when patrons have been holding off to purchasing extra provide – earlier than stabilising round RMB220/kg up to now couple of weeks, the value of polysilicon is predicted to say no once more later this yr as the provision will have the ability to assist the module demand all year long, in line with Xiande Li, chairman and CEO at JinkoSolar.
“We count on the market demand for PV merchandise to proceed to extend in 2023,” added Li.
Throughout This autumn 2022, the Chinese language module producer equipped 522MW of modules to one of many largest photo voltaic PV tasks in Brazil, positioned within the state of Paraíba.
Additionally in the course of the firm’s fourth quarter of 2022, it achieved new information by way of photo voltaic conversion effectivity as JinkoSolar elevated its n-type TOPCon monocrystalline photo voltaic cell effectivity report from 26.1% in October to 26.4%, in December.
The corporate added that the built-in value of n-type modules reached parity on p-type modules on the finish of final yr, because the mass manufacturing effectivity of n-type TOPCon cells reached 25.1% on the finish of 2022.
In its ahead steering for 2023, JinkoSolar expects to ship between 11-13GW of modules in the course of the first quarter of 2023, whereas for your entire yr module shipments are focused to be round 60-70GW.
Convention name transcript from In search of Alpha.