Reading Time: 1 minutes
Jinko Power (HK) Company with Jinko Power Dhafra Holding Co and Jinko Power Middle East Holding Co bags a bid for developing Independent Power Project (IPP). The company will develop Saad Solar Photovoltaic (PV) of 300 MW capacity in Saudi Arabia.
Jinko Power (HK) Company is a subsidiary of Jinko Power Technology Co of China. This project is a part of Category B projects under the National Renewable Energy Programme (NREP)’s the third round of the kingdom.
The company has submitted the tariff of Levelised Cost of Energy (LCOE) tariff of 5.5626 halalas/kWh for the project. Jinko Power will invest $209 million in the project.
The Saudi Ministry of Energy in October 2021 has selected two consortiums for the project. The first one was the Jinko and others and the second one was Masdar, EDF, and Saudi Nesma Company which submitted an LCOE tariff of 6.85321 halalas/kWh.
Jinko Power will complete the construction in 2 years and will operate for 30 years. It is a Build-Own-Operate (BOO) project. The average power generation annually of the project will be 876 million kWh.