FH Capital takes majority stake in JinkoSolar U.S. manufacturing

Demand for domestically manufactured solar and battery equipment has drawn a dedicated clean-energy private equity firm to the U.S. FH Capital is taking a 75.1% controlling interest in Jinko Solar (U.S.) Industries Inc., the American manufacturing subsidiary of China-based JinkoSolar, establishing it as a platform investment.

The parent company will retain a 24.9% minority stake.

The U.S. unit operates a 2 GW solar module manufacturing facility and a growing battery energy storage systems business.

The business brings a seven-year operating track record supplying U.S. customers, and its domestic production footprint aligns with federal clean-energy policy priorities.

FH Capital is led by Managing Partner Sanjeev Chaurasia, a former Credit Suisse banker who led JinkoSolar’s 2010 initial public offering on the New York Stock Exchange.

The firm has committed additional post-close capital to at least double the solar module production capacity and initiate domestic BESS manufacturing.

Nigel Cockroft, U.S. General Manager of JinkoSolar, welcomed the new structure, calling it the right ownership and strategic direction to expand capacity and serve rising demand for U.S.-sourced renewable energy products.

Latham & Watkins served as legal counsel to FH Capital.

Morgan Stanley Asia Limited provided financial advice to JinkoSolar, while Cleary Gottlieb Steen & Hamilton was legal counsel.

The transaction remains subject to customary closing conditions and regulatory approvals.