Major Investment in Solar Technology
JinkoSolar, the leading global solar panel producer, announced that its new factory in Saudi Arabia will begin operations in early 2026. This facility will be the largest manufacturing plant for N-type solar cells and modules, showcasing record efficiency. This marks JinkoSolar’s fourth overseas unit, joining those in Malaysia, Vietnam, and the United States. The Saudi plant will meet local demand and support global exports of technology, patents, and services.
Strategic Expansion and Market Potential
Qian Jing, vice-president of JinkoSolar, highlighted Saudi Arabia’s favorable conditions for new energy development. “The Saudi Arabian market enjoys better credit, sufficient financing resources, stable conditions, and policy support,” she said. This robust industrial foundation makes it an ideal location for Chinese photovoltaic companies aiming for international growth.
Partnership and Capacity
In July, JinkoSolar partnered with Saudi Arabia’s Public Investment Fund to build this facility. The plant, with an investment of around $1 billion, will have an annual production capacity of 10 gigawatts for high-efficiency solar cells and modules. This represents JinkoSolar’s largest overseas investment to date and solidifies its position as a leader in the solar energy market.
JinkoSolar already holds a 70% market share in Saudi Arabia. Chairman Li Xiande stated that this collaboration marks a significant milestone in the company’s global expansion. The partnership will optimize JinkoSolar’s manufacturing and marketing infrastructure, enhancing its global competitiveness.
Renewable Energy in the Middle East
Nicholas Lua, an analyst at Rystad Energy, emphasized the strategic importance of the Middle East for renewable energy. “These projects leverage the strengths and resources of both countries, serving as a model for international cooperation in combating climate change,” he said. Lua noted that Saudi Arabia’s exceptional solar energy potential could significantly boost domestic solar manufacturing.
Future Prospects and Market Impact
Qian mentioned that as low-end capacity phases out in China, JinkoSolar expects to increase its market share to 20% by 2024. Despite solar power costs dropping below coal-fired power, solar energy will only become fully competitive when combined with energy storage solutions. JinkoSolar aims to lead the global energy storage market within the next three to five years.
Source：chinadaily.com.cn
