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JinkoSolar (NYSE:JKS) -8.7% in Tuesday’s trading after its solar panel manufacturing plant in Jacksonville, Florida, was raided by federal agents yesterday.
Federal authorities did not disclose the reason for the search warrant executed by the U.S. Department of Homeland Security investigative arm.
The city of Jacksonville may delay a city council vote scheduled for Tuesday night on possible tax incentives for expansion of the local JinkoSolar (JKS) solar panel manufacturing plant following the raid, according to the Florida Times-Union.
China’s JinkoSolar (JKS) set up the 400 MW Jacksonville plant in 2018 and employs more than 270 workers, and it is planning on a $52M expansion that would create another 250 full-time jobs.
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