Jinko Power has formalized an agreement with the Saudi Power Procurement Company (SPPC) for the development of the 400-MW Tabarjal solar project in Saudi Arabia, reinforcing its presence in the kingdom with a solar portfolio now totaling 700 MW.
The 25-year power purchase agreement (PPA) was secured in the fourth round of Saudi Arabia's National Renewable Energy Programme (NREP), with Jinko Power clinching the bid at USD 0.0170 (EUR 0.016) per kWh.
Located approximately 17 km northeast of the city of Tabarjal in the Al-Jouf Province, the solar park is slated for construction in 2024 and 2025.
This deal marks Jinko Power's second venture into solar projects in Saudi Arabia, following the ongoing construction of the 300-MW Saad solar scheme, which the Chinese developer secured in the third round of the NREP auction.
Expressing a commitment to further expansion, Charles Bai, President of JinkoPower International Business, stated, “We are keenly looking for future pipeline projects given its massive potential, as well as strategic alignment towards decarbonization and renewable energy generation in the Kingdom.”
The Tabarjal PPA announcement follows the recent contract signing for the 1.1-GW Al Henakiyah solar project, awarded to a consortium comprising Masdar, EDF Renewables, and Nesma Renewable Energy. The developments underscore Saudi Arabia's continued momentum in advancing renewable energy initiatives.