Chinese solar module manufacturer JinkoSolar has entered into an agreement to supply 3.8GW of its advanced n-type solar panels to ACWA Power, an energy company. These high-tech panels, part of JinkoSolar's Tiger Neo brand, incorporate tunnel oxide passivated contact (TOPCon) technology, renowned for its efficiency and performance. ACWA Power intends to deploy these panels in two pivotal solar projects currently underway in Saudi Arabia.
The first project, known as Ar Rass 2, boasts a capacity of 2.3GW and is strategically located in the central province of Al-Qassim. The second project, Al Kahfah solar farm, is a 1.5GW initiative in development within Saudi Arabia's Eastern Province.
Yunhe Lv, the Executive Vice President of ACWA China, expressed enthusiasm about the collaboration, highlighting how n-type TOPCon technology will ensure that their solar projects meet performance targets. These projects are poised to play a crucial role in delivering clean and competitively priced energy, with applications extending to desalination and hydrogen production. Additionally, these endeavors align with ACWA Power's commitment to serving customers across the Middle East, signifying the company's aspiration for an extended and strategic partnership with JinkoSolar in the fields of solar, energy storage, and other renewables.
This news underscores a series of positive developments for JinkoSolar, which has already shipped a remarkable 52GW of solar modules during the first three quarters of this year. Notably, the company outsold key competitors such as Trina Solar, LONGi, and JA Solar during the initial half of the year, reaffirming its ambitions to regain its position as the world's leading module supplier.
Furthermore, this agreement holds particular significance in the context of Saudi Arabia's Vision 2030 program, which aims to satisfy half of the nation's energy requirements with renewable power by the close of this decade. Meeting this ambitious target necessitates substantial investments in the renewable energy sector. As of 2022, data from the US Energy Information Administration reveals that renewables accounted for less than 1% of the country's energy mix, with natural gas covering 67% of energy demand and oil accounting for the remaining 33%. This collaboration between JinkoSolar and ACWA Power represents a substantial stride towards realizing Saudi Arabia's renewable energy ambitions, marking a pivotal step in its journey towards a more sustainable energy landscape.
