JinkoSolar, in partnership with Renewable Energy Localization Company (RELC) and Vision Industries Company (VI), has formalized a joint venture to establish a manufacturing plant for high-efficiency solar cells and modules in Saudi Arabia. The project represents a total investment of around $1 billion.
This strategic initiative splits the stake equally between JinkoSolar Middle East DMCC (40%), RELC (40%) and VI (20%). Completion of the plant is subject to obtaining the necessary regulatory approvals. Production is expected to reach an annual capacity of 10 GW for each product category. In addition, numerous renewable energy projects are being developed in Saudi Arabia, which is betting heavily on renewable energies in its future energy mix.
A Strategic Investment
The choice of Saudi Arabia for this project is part of a localization strategy aimed at optimizing costs and strengthening regional production capacities. The $1 billion plant will be financed by internal and external funding. The production schedule will depend on market conditions.
Mohammed AlBalaihed, Head of Energy and Utilities for the Public Investment Fund (PIF) and Chairman of RELC, emphasized that this collaboration is in line with Saudi Arabia’s Vision 2030 objectives. This plant is envisaged as an important lever for the country’s solar industry.
Outlook and Impact
The high-efficiency solar cell and module manufacturing plant is a key project for Saudi Arabia’s economic diversification. By strengthening local solar production capacity, this joint venture could position the country as a regional leader in the renewable energies sector. Market prospects for high-efficiency products are promising, particularly in regions with high demand for solar energy.
The partners expect the plant to help set industry standards while meeting growing demand for advanced solar technologies. Details of technical specifications and launch dates will be determined by market developments and local regulations.
