JinkoSolar, China’s largest solar energy company, announced on the tenth that it signed a contract to produce solar energy modules price 3 gigawatts (GW) in Saudi Arabia.
Through this contract signed with ACWA Power, a non-public power generation company in Saudi Arabia, solar modules with a capability of 1.2GW might be supplied to the Haden Project and 1.8GW to the Al Qushaibi Project.
This is just not JinkoSolar’s first time entering Saudi Arabia. In October last 12 months, we signed a contract with ACWA to produce solar modules with a capability of three.8GW, expanding our business to the Middle East and North Africa.
Also, last July, a three way partnership was established with RELC and Vision Industries (VI) to determine solar cell and module manufacturing facilities. The investment amount is roughly $1 billion (roughly 1.3 trillion won), enabling the production of 10GW of solar cells and modules per 12 months.
The USA imposed tariffs on 4 Southeast Asian countries (Cambodia, Thailand, Malaysia, and Vietnam) to limit Chinese solar corporations from entering america, but China still produces greater than 80% of the world’s solar panels. Specifically, it maintains a robust position by signing large-scale contracts in Europe and the Middle East.
Specifically, JinkoSolar’s market share last 12 months exceeded 50% and Saudi Arabia’s market share exceeded 70%.
An organization official said, “We are going to cooperate with AWCA to realize the goal of carbon neutrality by 2060, and it’s an effort for the Belt and Road Initiative.”
Reporter Jaeseung Lee energy@aitimes.com
