For the First Time, Solar Is Contracting. But China’s Giants Are Doubling Down
- JinkoSolar, GCL-Poly and Tongwei are among those ramping up
- Increasing output will allow them to gain market share: SWS
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The top solar manufacturers in China are boosting production capacity, betting higher output will help them seize a bigger chunk of the global market that is set for its first-ever annual contraction.
JinkoSolar Holding Co., which has lost almost half its market value this year, is ramping up cell and panel capacity and targeting higher-quality production, Qian Jing, vice president of the world’s largest panel maker, said in an email. GCL-Poly Energy Holdings Ltd., Tongwei Co. and LONGi Green Energy Technology Co., which have all plunged at least 45 percent over the same period, also announced expansion plans.