JinkoSolar (JKS) and FH Capital have signed a deal under which the latter will acquire a 75.1% equity in JinkoSolar's Jinko Solar Industries unit, FH Capital said Friday.

Financial terms weren't disclosed.

FH Capital said JinkoSolar will retain its 24.9% stake in the unit, adding that after closing, it will deploy additional expansion capital to "at least" double the current solar module manufacturing capacity and start local battery energy storage systems production.

Shares of JinkoSolar were up 2.4% in Friday premarket activity.