Electrical Equipment / Components & Telecoms

LCOE won the bid for a 300MW photovoltaic power generation project in Saudi Arabia. The project is an open bidding project of the Saudi government and is one of the third round of national renewable energy projects in Saudi Arabia.

According to the announcement, JinkoTech plans to set up a wholly-owned subsidiary in Saudi Arabia (the "project company") to be responsible for the investment, construction and operation of the Saudi project. The project company is currently under preparation and will be transferred in the future according to the cooperative investment plan. Part of the equity of the project company.

The Saudi project is located in the Saad area, about 85 kilometers east of Riyadh, the capital of Saudi Arabia. This area is a desert area with long sunshine hours and sufficient light resources. The Saudi project adopts a "build-own-operate" (BOO) model, with an estimated construction period of 24 months and an estimated operation period of 30 years.

The actual construction scale of the project is about 348.80MWp, and the total investment is about US$209 million (excluding tax), of which the investment in fixed assets is about US$204 million. The winning bid price (LCOE) for the project is 5.5626 hals/kWh (about 1.48 cents/kWh). After the project is completed, it is estimated that the annual equivalent utilization hours will be about 2,510 hours, and the average annual power generation will be about 876 million kWh.

In recent years, the Saudi government has continued to advocate the development of energy diversification, using its unique lighting conditions to vigorously develop photovoltaic projects and optimize the power energy structure.

Jinko Technology said that the project will help to further expand the installed capacity of its overseas photovoltaic power plants, optimize the company's power plant asset layout, enhance the company's competitiveness and brand influence in the overseas photovoltaic power generation market, and obtain investment in overseas high-quality photovoltaic power generation projects. opportunities and bring certain economic benefits to the company.