Chinese solar panel maker JinkoSolar Holding Co announced Thursday that it has entered into a strategic partnership with CATL, China's largest power battery maker.

The two have agreed on comprehensive strategic cooperation in areas including energy storage business, integrated PV and energy storage solutions, and carbon neutrality, JinkoSolar said.

"We are looking forward to working with CATL to develop the global integrated PV and storage market," said JinkoSolar CEO Chen Kangping.

(Photo source: JinkoSolar)

This is the latest move by JinkoSolar to make a push in the energy storage sector.

Earlier last month, EV battery manufacturer Gotion High-Tech announced that it had signed a strategic cooperation agreement with JinkoSolar to develop the global PV+storage market.

Founded in 2006 and listed on the New York Stock Exchange in 2010, JinkoSolar's business covers ingot, wafer and cell manufacturing as well as mono-polycrystalline PV module manufacturing.

As of March 31, 2021, the company has a monocrystalline wafer capacity of approximately 22 GW, a cell capacity of approximately 11.5 GW and a module capacity of approximately 31 GW.

JinkoSolar shares have gained about 34 percent since August 20, following an eight-day-long streak of declines that saw them fall 31 percent.