JinkoSolar, a solar module manufacturer based in Shanghai, China, has announced that its manufacturing plant in Saudi Arabia is set to begin operations in early 2026.
The module production facility will be the largest globally that only manufactures N-type solar cells, generating 10GW production capacity per annum.
JinkoSolar has three similar international plants, based in the USA, Vietnam, and Malaysia. Constructing the Saudi Arabian plant will cost around USD $1bn – the company’s largest international investment to date and a key player in its global expansion.
Qian Jing, vice-president of JinkoSolar, comments: The Saudi Arabian market enjoys better credit, sufficient financing resources, stable conditions, policy support … and has become one of the fastest-growing regions for new energy development in the Middle East.
“Its robust industrial foundation makes it an excellent choice for Chinese photovoltaic companies looking to expand overseas.”
Qian adds that JinkoSolar has a large market share in the Middle East already, boasting a 70% market share. Saudi Arabia is increasing its relevancy in the renewable sector due to its high potential for solar PV: coming in at around 2,000kWh/m2
Li Xiande, Chairman of JinkoSolar, adds that its plant in Saudi Arabia demonstrates the company’s commitment to international collaborations, while also improving its infrastructure, competitiveness, and the worldwide presence of Chinese solar companies.
This increased presence of Chinese companies could also be due to low-end capacity being phased out in China, leading to JinkoSolar anticipating an international market share increase to 20% in 2024 compared to 2023.
Qian concludes that solar power will not be fully competitive until the combined cost of solar and storage has dropped below or matches coal-fired power – despite coal already having fallen behind solar alone.
