China's JinkoPower to invest in the construction of a 300 MW photovoltaic power generation project in Saudi Arabia, while IDG Energy Investment subsidiary plans to set up a RMB 190.8 million company.
JinkoPower to invest in 300 MW PV project in Saudi Arabia: Clean energy provider JinkoPower issued an announcement that it will be investing in the construction of a 300 MW photovoltaic power generation project in Saudi Arabia. The consortium consisting of Jinko Power (HK) Company Ltd, Jinko Power MiddleEast Holding Co. Ltd and Jinko Power Dhafra Holding Co. Ltd. won the bid for the project. The total investment of the project will be RMB 1329.4 million ($209 million). Once the project is completed, the average annual power generation is expected to be about 876 million kWh. In December 2021, JinkoPower had announced the acquisition of San Juan PV Power Station (see China PV News Snippets)
IDG subsidiary to set up RMB 190.8 mn company: Global energy assets investment and management company IDG Energy Investment announced that its wholly-owned subsidiary, Valuevale Investment Limited, has signed an investment agreement with Xuzhou National High-tech Industrial Development Zone Management Committee. As per the agreement, the company will set up a foreign-invested project company with a registered capital of RMB 190.8 million ($30 million) within 2 months after the execution of the Investment Agreement. The new company will engage in the construction of solar cell and semiconductor cleaning equipment production lines. The production lines will be put into operation in the first half of 2022. In December last year, IDG had announced its intentions to expand its investment in advanced manufacturing of semiconductor and solar power industries (see China PV News Snippets)
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