Leading Chinese module manufacturer JinkoSolar has signed a supply deal with Saudi Arabian power developer ACWA Power to provide 3GW of PV modules for the latter’s Saudi PIF4 portfolio.
The deal will see JinkoSolar provide modules to two solar projects, the 1.8GW Al-Khushaybi solar project and the 1.2GW Haden project. JinkoSolar will provide modules from its n-type tunnel oxide passivated contact (TOPCon) Tiger Neo range to the projects.
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The Al-Khushaybi project is to receive the company’s series 78 modules—which boast a power conversion efficiency of 22.7% and 23.3% for its monofacial and bifacial variants, respectively—and the Haden project will receive panels from its 66 series—which have a power conversion efficiency of 23.5% for monofacial modules and 23.3% for bifacial modules.
The deal is JinkoSolar’s latest investment into the Saudi Arabian solar space. JinkoSolar noted that, as of 2023, its market share in the Middle East region exceeded 50%, with more than 70% of the Saudi market alone, and earlier this year, the company announced plans to build a 10GW cell and module manufacturing plant in the country.
The module supply deal is also the latest international agreement for the Al-Khushaybi and Haden projects, with Indian firm Larsen & Toubro contracted to build the former project, and the China Energy Engineering Corporation (CEEC) on board to build the latter project. ACWA Power expects to commission both projects, alongside the 2GW Muwayh project, in the first quarter of 2027, with the three projects reflecting a total investment of US$3.2 billion.
The news also follows the Saudi Power Procurement Company (SPPC) signing a power purchase agreement (PPA) to acquire power generated at the three projects over the summer. The sheer size of the portfolio, and the significant capital that has been invested into the projects, is a clear commitment to meeting the targets set out in Saudi Arabia’s Vision 2030 goals. As of the end of 2023, 2.8GW of renewable capacity had been connected to the country’s national grid, with a further 13.76GW of capacity in the pipeline.
