Jinko Power Technology Co., Ltd has inked a deal with the Saudi Power Procurement Company for the development of the 400-MW Tabarjal solar project in Saudi Arabia, increasing its solar portfolio in the kingdom to 700 MW.
The 25-year power purchase agreement was awarded as part of the fourth round of Saudi Arabia's National Renewable Energy Programme. Jinko Power won the bidding with an offer of USD 0.0170 per kWh.
The solar park will be built some 17 km northeast of the city of Tabarjal, in the Al-Jouf Province, with construction works planned to take place in 2024 and 2025.
The contract marks Jinko Power's second solar project in Saudi Arabia after the 300-MW Saad solar scheme which is currently under construction. The Chinese developer was awarded the project in the 3rd round of the National Renewable Energy Programme auction.
The company is seeking to further expand its solar portfolio in Saudi Arabia. "We are keenly looking for future pipeline projects given its massive potential, as well as strategic alignment towards decarbonisation and renewable energy generation in the Kingdom," Charles Bai, President of JinkoPower International Business said.
The power purchase agreement for Tabarjal comes on the heels of the signing of a contract for the 1.1-GW Al Henakiyah solar project which was awarded to a consortium of Masdar, EDF Renewables and Nesma Renewable Energy.