The Chinese energy engineering company plans to build a solar power plant in Saudi Arabia worth over 6.98 billion yuan (972 million dollars). This deal represents a new renewable energy agreement between the two countries, according to Reuters.
A joint project between the Chinese energy engineering consortium and Saudi partners, including the Public Investment Fund, ACWA Power, and Saudi Aramco, will build a photovoltaic power plant with a capacity of 2 gigawatts. The construction is expected to take 31 months, according to the company’s disclosure to the Shanghai Stock Exchange.
The Chinese company “TCL Zhong Huan” specializing in renewable energy technology had agreed last month with Saudi entities, including the “Public Investment Fund,” on a $2.08 billion project to manufacture silicon crystals and wafers.
Jinko Solar has also signed a separate agreement to invest in a 10-gigawatt solar cell and panel factory in Saudi Arabia, with a cost of $985 million.
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