JinkoSolar, the global leading PV and ESS supplier, has announced a new chapter milestone in its partnership with Saudi International Power and Water Company (ACWA Power. The two companies recently signed a supply agreement for )by successfully signing a supply contract for approximately 3GW of photovoltaic modules for the Saudi PIF4 project. This collaboration further not only deepens reinforcesthe long-term, mutually beneficial, and high-quality partnership between the two companies, but also underscoresshowcasing JinkoSolar's leading positionership and strong competitive edgeeness in the global photovoltaic market. Additionally, it, and highlightsting JinkoSolar’sits significant contribution to China's "Belt and Road" initiative.
JinkoSolar and ACWA Power have established a close cooperative and trusted relationship partnership and trust since many years ago ago. In recent years, the two partiesy have completed multiple photovoltaic projects together, accumulating gaining rich extensive cooperative experience and successful case studies stories. Earlier this year, JinkoSolar and ACWA Power signed a comprehensive package of framework cooperation agreement, and this contract signing is a concrete implementation of the framework agreement. According to the agreement, the two parties companies will collaborate on photovoltaic projects globally worldwide, jointly to jointly promotepromoting the development of green energy.
This contract covers two sub-projects within the PIF4 project clustergroup: Haden and Al-Khushaybi projects, with a total capacity of 3GW. The Haden solar photovoltaic power station, with a capacity of approximately 1.2GW, is contracted by China Energy Engineering Group Consortium, and it will use JinkoSolar's high-efficiency N-type Tiger Neo series 78 photovoltaic modules. The Al-Khushaybi power station project, with a capacity of 1.8GW, is contracted by the Indian company L&T and will adopt use JinkoSolar's latest N-type Tiger Neo series 66 photovoltaic modules. JinkoSolar's Tiger Neo modules, featuring advanced N-type TOPCon technology, have demonstrated excellent low degradation rates, low temperature coefficients, and high reliability, ensuring the project's high-level performance under the harsh conditions of high irradiationradiation, high temperatures, large significant temperature differences between day and night, and frequent sandstorms in Saudi Arabia.
The partnership collaboration between JinkoSolar and ACWA Power provides strong support for Saudi Arabia’s goal ofto achievinge its "net-zero carbon emissions" goal by 2060. It is reported that in 2023, JinkoSolar's market share in the Middle East region in 2023 exceeds 50%, with over 70% and in the Saudi market, it exceeds 70%.. Recently, JinkoSolar also joined partnered with Saudi Public Investment Fund (PIF) and others to invest in the construction of a factorybuild a manufacturing facility in Saudi Arabia. This not only reflects JinkoSolar's market leadership position in the Middle Eastern market region but also represents the company's proactive response to the "Belt and Road" initiative and its deepening efforts to deepenof international cooperation. In the futureMoving forward, JinkoSolar will continue to work with global partners to promote the development of green energy and contribute to the achievement of global sustainable development goals.
Legal Statement
Jinko Solar was listed on the STAR Board of the Shanghai Stock Exchange in 2022, and JinkoSolar Holding Co., Ltd., its indirect controlling shareholder, was listed on the New York Stock Exchange in 2010.
