FH Capital to acquire 75.1% stake in Jinkosolar's U.S. subsidiary with plans to double module capacity

FH Capital, through an affiliate, has agreed to acquire a 75.1% controlling stake in JinkoSolar's U.S. subsidiary, which operates a 2 GW solar module facility and a BESS business, with post-closing expansion capital to at least double production and initiate domestic battery manufacturing.

FH Capital, a private equity firm focused on clean-energy investments, has entered into a definitive agreement to acquire a 75.1% stake in Jinko Solar (U.S.) Industries Inc., a subsidiary of JinkoSolar (NYSE: JKS), according to official disclosures.

JinkoSolar will retain a 24.9% minority interest. The subsidiary includes a 2 GW solar module manufacturing facility and a growing battery energy storage systems (BESS) business. Post-closing, FH Capital will deploy additional expansion capital to at least double current solar module capacity and initiate domestic BESS manufacturing. Financial terms were not disclosed. The transaction is subject to customary closing conditions and regulatory approvals.

This development matters because the new structure establishes a diverse U.S. manufacturing platform aligned with evolving U.S. clean-energy policy, including domestic content incentives. FH Capital is led by managing partner Sanjeev Chaurasia, a veteran renewable energy investment banker who previously co-founded Credit Suisse’s renewable energy practice and led JinkoSolar’s 2010 NYSE IPO. The transaction leverages JinkoSolar’s seven-year U.S. manufacturing presence, technology, and blue-chip customer relationships combined with FH Capital’s sector expertise and financing experience. Industries impacted include solar module manufacturing, battery storage, and clean-energy private equity.

Regional stakeholders include U.S. utilities, project developers, and domestic supply chain participants.

For investors, the transaction represents a model for foreign-owned renewable energy manufacturers transitioning to U.S.-controlled ownership to access policy incentives. The expansion capital commitment signals confidence in demand growth, though execution depends on tariff policy, labor costs, and supply chain localization.

FH Capital is a private equity firm focused on clean-energy investments, led by renewable energy finance veterans.

JinkoSolar is a global solar module manufacturer headquartered in China, with a U.S. subsidiary operating manufacturing and storage businesses.