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-Our robust manufacturing capacity ensures the timely delivery of our projects in the Kingdom and across the globe.
-As of H1 2022, LONGi has secured 1,808 authorized patents of various types, and invested 3.670 billion yuan in research and development, accounting for 7.28% of the operating revenue.
-ATC has grown over 70 years and now includes more than 12 companies within Abunayyan Holding.
Please introduce us to the mainstream products of LONGi in the KSA region.
LONGi’ s primary product for the Saudi market at the moment is the Hi-Mo 5 half-cut P-type module with the M10 wafer. This mainstream product is the most in-demanding in the Kingdom. For utility-scale projects, Hi-Mo 5 bi-facial mono module from 535 W up to 555 W is the main product. Currently, we’re delivering two projects with a total capacity of 806 MW in the western region of the Kingdom, namely the 406 MW Red Sea Project and the 400 MW Rabigh Project.
Regarding the C&I and the residential market, Hi-Mo 5 P-type mono-facial module from 540 W up to 560 W is the most popular product in the Kingdom.
At LONGi, being one of the leading module manufacturers, we focus on delivering the most reliable and sustainable products to our clients with a competitive LCOE. LONGi ranked NO.1 in the past two years in the global module shipments. So far this year, the planned module production capacity is 85 GW in our China and overseas manufacturing bases. LONGi records a 44% YoY increase in revenue in H1 2022. Our robust manufacturing capacity ensures the timely delivery of our projects in the Kingdom and across the globe.
How can LONGi expand more into the market and serve customers in a better way in KSA?
Two major actions are the keys to enhancing our presence and reach in the Kingdom. The first action is to provide reliable and trustworthy products with guaranteed performance and delivery. Since 2000, LONGi has been focused on our core values of ‘Reliable’, ‘Value added’, and ‘Fulfillment’. The R&D budget is 5 to 7% of our revenue, which is the largest in the entire PV manufacturing industry. As of H1 2022, LONGi has secured 1,808 authorized patents of various types, and invested 3.670 billion yuan in research and development, accounting for 7.28% of the operating revenue.
The second area of focus will be our partnership with local Saudi companies. LONGi will be able to better serve our customers in Saudi Arabia by carefully selecting and working together with the strongest, most supportive, and reliable partners. We have recently partnered with Abunayyan Trading Company(ATC), a local Saudi trading company that has been in existence for over 70 years. We are delivering the most demanding products to our customers and serving them better with ATC’s well-established distribution channel, customer base, and dedicated team. We would like to build on these strengths to increase our presence in the region and the kingdom.
What are your expectations between the partner relationship, and the contribution to the 2030 targets of KSA?
Currently, the Kingdom is welcoming and expecting the leaders of the module manufacturing industry like LONGi to add value by bringing our presence, knowledge, and technology to the region. This is the right time to join new collaborations with local companies. We announced the partnership with ATC in early June this year.
Saudi Arabia’s 2030 vision is to bring a 50% renewable energy mix. As mentioned above, LONGi, we need strong local partners, like ATC as our local advisor to help us understand the market, clients, and market demand for the products. In this case, we can both use our strengths and talents to help the Kingdom achieve its 2030 vision.