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Private equity firm FH Capital has entered into a definitive agreement to acquire a 75.1% majority stake in JinkoSolar’s U.S. manufacturing subsidiary, marking a significant development in the expanding domestic solar manufacturing and battery energy storage sectors.

Under the agreement, JinkoSolar will retain a 24.9% minority interest in the business. The transaction includes control of a 2 GW solar module manufacturing facility along with the company’s growing battery energy storage systems (BESS) business in the United States.

Following the close of the transaction, FH Capital said it plans to invest additional capital to expand the company’s domestic manufacturing footprint. The firm aims to at least double current solar module production capacity to 4 GW or more and establish domestic BESS manufacturing capabilities.

The companies said the deal is intended to strengthen U.S.-based clean energy manufacturing at a time when demand for domestically produced solar and storage products continues to increase. The transaction also aligns with broader industry efforts to localize supply chains and respond to evolving U.S. energy and trade policies.

FH Capital is led by Managing Partner Sanjeev Chaurasia, a renewable energy investment veteran with more than two decades of experience in the sector. According to the companies, Chaurasia previously helped lead JinkoSolar’s initial public offering on the New York Stock Exchange while at Credit Suisse.

JinkoSolar, which operates globally in solar module manufacturing, established its U.S. manufacturing presence several years ago as part of broader efforts to expand domestic production capabilities.

Financial terms of the transaction were not disclosed. The acquisition remains subject to customary regulatory approvals and closing conditions.

The deal comes amid continued consolidation and investment activity across the renewable energy industry, particularly in U.S.-based solar and storage manufacturing.

Source: pv-magazine.com