Private equity firm FH Capital has signed a definitive agreement to purchase a 75.1% majority stake in Jinko Solar (U.S.) Industries, a subsidiary of JinkoSolar.
The transaction will see JinkoSolar retaining the remaining 24.9% minority interest in the business.
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Following the completion of the deal, FH Capital intends to invest additional funds to expand JinkoSolar’s existing solar module production facility, with aims to at least double current output and introduce domestic manufacturing of battery energy storage systems (BESS). The facility currently operates with a production capacity of 2GW.
The planned investment aligns with increasing demand for solar and storage products in the US and current energy policy developments.
The agreement remains subject to the fulfilment of customary closing conditions and regulatory approval. The parties have not disclosed the financial terms of the deal.
FH Capital is led by managing partner Sanjeev Chaurasia, whose prior experience in the renewable energy sector includes a tenure as managing director at Credit Suisse and involvement in JinkoSolar’s initial public offering on the New York Stock Exchange in 2010.
Chaurasia said: “The transaction leverages JinkoSolar’s well established seven-year US manufacturing presence, proven technology and strong relationships with blue-chip US customers, with FH Capital’s capabilities to create and manage a dynamic platform positioned to meet rising demand for domestic solar and storage solutions.”
JinkoSolar has engaged Morgan Stanley Asia as its financial advisor for the transaction, with Cleary Gottlieb Steen & Hamilton (Hong Kong) providing legal counsel. FH Capital’s legal counsel is Latham & Watkins.
JinkoSolar US general manager Nigel Cockroft said: “We believe this transaction provides the right ownership, management and strategic direction for this new venture to grow capacity and serve the growing demand for high-performance US-sourced renewable energy products.”
In June 2025, JinkoSolar subsidiary Jinko ESS signed a framework agreement with METLEN to implement more than 3GW-hours of utility-scale BESS in Chile and Europe.
