The Al Ghazala Energy Company, Jinko Power Technology’s subsidiary in Saudi Arabia, has announced the financial closure and start of construction of a 300MW PV project in the Kingdom.
The project, located near the town of Saad, falls under ‘category B’ in the third round of tenders issued by Saudi Arabia’s National Renewable Energy Programme (NREP), with a Power Purchase Agreement for a term of 25 years signed in March 2022 with the Saudi Power Procurement Company (SPPC). The project is scheduled for commissioning in Q4 2024, with Elsewedy Electric for Transmission and Distribution of Energy (“EET&D”), a subsidiary of the Egyptian multinational Elsewedy Electric, selected as EPC contractor.
Charles Bai, president for international business at Jinko Power, commented: “The financial closure of the Saad project during challenging times for the world and the solar industry specifically is testament to our commitment to the renewable industry in Saudi Arabia and the company’s ability to develop and execute projects with experienced teams spanning technical, supply chain, finance, legal and project management.”
The global IPP’s senior managing director, Mothana Qteishat, added: “A great start to 2023. The closing of the Saad project underpins our commitment to Prince Mohammad Bin Salman and the Kingdom’s ‘Vision 2030.’ This adds to our already impressive track record in the region, following the world’s largest operational single-site solar plant (the 1.2GW Sweihan project) and largest single-site plant under construction (the 2.1GW Dhafra project) in Abu Dhabi, and we are delighted to have the local know-how of Elsewedy Electric as our EPC partner for what is our first project in the Kingdom.”
As of September 2022, Jinko Power owns and operates 3.3GW of domestic projects in China and 3.6GW of projects developed, constructed and in operation internationally.