As the GCC accelerates its shift toward renewable energy, solar PV has emerged as the region’s most economical and strategic power source. In this interview, Yazan Isaid, Business Development Director at Jinko Solar, discusses the latest trends driving this transformation from advanced technologies like TOPCon and bifacial modules to policy shifts and market dynamics in the UAE and Saudi Arabia. His insights highlight how Jinko Solar is helping shape the future of solar energy in one of the world’s most challenging yet promising environments.
How do you see the current dynamics of the solar PV module market evolving in the GCC region, especially in terms of technology adoption and pricing trends?
The solar PV modules market in the GCC region is currently going through a transformative phase influenced by rapid adoption and significant price adjustments. First, regarding technology preferences, the market is clearly shifting towards high-efficiency modules and specifically N-type TOPCon technology, which in 2024 had >70% market share globally, and demonstrated superior performance in the GCC region’s harsh climatic conditions.
We recently conducted a comprehensive field test in Qatar in collaboration with Qatar Environment and Energy Research Institute (QEERI) to compare and gain realistic insights on the actual performance of TOPCon modules during the GCC region’s summertime when compared with HJT technology. The results decisively showed that our advanced TOPCon modules outperform HJT by maintaining higher overall energy output levels even at high temperatures (>45°C). The GCC market is also rapidly embracing bifacial modules even for C&I applications due to its higher energy output, higher durability, and the significant improvements in the cost-benefit equation as bifacial modules prices have dropped substantially to be more competitive when compared with monofacial modules.
Second, PV modules prices have been facing a continued downward trajectory due to the ongoing overcapacity situation, with supply in 2024 almost doubling the demand. This price drop has been influential in driving record-low tariffs in recent utility bids in the region.
By end of 2024, the UAE was still leading the solar PV installations by around 5.4GW followed by Saudi Arabia with an installed capacity of around 4GW. However, Saudi Arabia’s aggressive capacity additions under Vision 2030 are expected to shift this balance by 2027-2028.
The GCC market is expected to have compelling growth projections with aggressive 2030 targets set by all GCC countries. Another important point to highlight is how the region’s solar PV market growth is becoming increasingly driven by economics rather than purely environmental considerations due to record-low tariffs that are being consistently below $0.02/kWh. Therefore, solar PV has become the most economical energy generation option.
What are the key demand drivers for Jinko Solar’s modules in the C&I and utility-scale segments across the GCC markets?
Jinko Solar has always considered the GCC as a unique and strategic region, and we have been actively supporting its different solar PV markets from their early beginnings. Thanks to our advanced and high-quality products, strong local presence, and unmatched after-sales support, we have been the region’s top PV modules supplier for multiple consecutive years with around 40% market share in the UAE and 60% market share in KSA by the end of 2024.
The demand for Jinko Solar’s modules in the GCC region usually stems from multiple distinct drivers across both C&I and utility-scale applications. In the C&I sector, we have experienced remarkable growth in the past few years that is primarily driven by the sector’s increasing focus on reducing operational costs. Another major driver within the C&I segment is the growing emphasis on ESG compliance among GCC businesses to enhance their Corporate Social Responsibility (CSR). In the UAE, and specifically Abu Dhabi, Jinko Solar was the first supplier to go through the special approval process led by Abu Dhabi Civil Defence (ADCD) and will be very soon the only supplier to get that approval which will be another major demand driver for Jinko Solar modules in the C&I sector in UAE.
In the utility-scale segment, an ambitious pipeline of multi-GW scale projects has been established in the region due to several Government-led initiatives, such as Saudi Arabia’s Vision 2030 and the UAE’s Net Zero 2050 strategy. Other countries like Oman, Qatar, and Kuwait are also undergoing a transformative phase with a solid push to develop large-scale solar PV projects to meet their clean energy targets. Our TOPCon technology has been particularly successful in several competitive bids in the region due to its high reliability, high bankability, and proven performance in extreme desert conditions, which translates to an enhanced and lower LCOE during bid evaluations.
Our significant and dominant market share across all GCC countries reflects the region’s prioritization of quality, reliability, bankability, and performance over initial cost considerations. Decision-makers in both government and private entities in our region have become well-aware of the importance of modules quality and how it significantly impacts their long-term project economics, especially given the harsh climate conditions.
Which Jinko Solar products or technologies are currently most relevant or in demand in the GCC, and how are they addressing regional climate and grid challenges?
The GCC region has its own unique set of challenges when it comes to solar PV installations, including extreme ambient temperatures (exceeding 50°C), high humidity, high dust accumulation, and a grid infrastructure that still requires continuous enhancements to adapt to intermittent renewable energy sources. As a leader in TOPCon technology and the first company to offer it in our region, our product development strategy has particularly addressed these regional challenges through targeted innovations. Our flagship Tiger Neo series, featuring 20BB technology, has been designed and engineered to withstand the GCC region’s climate challenges as a main design consideration. This specific module has proven its superiority and gained significant demand in both C&I and utility-scale applications due to its advanced and state-of-the-art features such as high efficiency, optimized temperature coefficient, enhanced low-light performance, and high durability. Additionally, and as mentioned earlier, we have been prioritizing bifacial modules for both C&I and utility-scale projects in response to the increasing market demand that is mainly driven by the bifacial modules’ higher energy output, enhanced durability, and optimized costs achieved through economies of scale.
The recently announced regional cells and modules manufacturing facility that we are currently developing in Saudi Arabia is the first-of-its-kind in our region and will further enhance our ability to address and meet local requirements while reducing supply chain issues and vulnerabilities. This initiative clearly demonstrates our commitment and intentions in the region to position ourselves as not just a technology provider, but a long-term strategic partner fully dedicated to supporting the region’s energy transition goals.
How have UAE and Saudi policies shaped utility-scale solar, and what role is Jinko Solar playing in key projects there?
UAE and Saudi Arabia have been at the forefront of solar PV developments in the region with around 9.5GW of combined installed capacity by the end of 2024, and an ambitious 2030 targets. This is all due to the policy landscapes that have evolved significantly in the past years to create distinct but equally effective frameworks for utility-scale solar projects, with Jinko Solar playing a pivotal role in those key projects across both markets.
The UAE has had an early adoption approach with consistent policy refinement that helped the country be a leader in solar PV utility-scale developments. The UAE’s Energy Strategy 2050 and its clear roadmap has provided the market with the visibility required for long-term investment decisions, along with an attractive investment environment that has been specifically effective in driving down costs while maintaining high quality standards. We are proud to have supplied our advanced modules to a significant number of solar PV utility-scale developments in the UAE along with our key partners including world renowned IPPs, EPCs, owners, and consultants.
Saudi Arabia’s approach has been slightly different but equally impactful through Vision 2030, which targets 45-50% renewable energy by 2030 which equals to 100-130GW of planned capacity and solar PV is expected to have at least 60% share. The Renewable Energy Project Development Office (REPDO) along with Saudi Power Procurement Company (SPPC) have implemented a regular and structured tender program that has proven its success for multiple rounds while attracting global investments and driving tariffs to record-lows. Another major contributor to Saudi Arabia’s Vision 2030 is PIF projects which also concluded multiple successful rounds of GW-scale solar PV projects. All those developments and initiatives have proven their success in all rounds and continue to attract strong interest from global investors.
Our footprint in Saudi Arabia is significant with around 60% market share by end of 2024. We proudly supplied our advanced modules to multiple utility-scale projects including REPDO and PIF developments along with other major installations at NEOM.
Our most recent and significant development in the Kingdom is the initiative to establish a 10GW cells & 10GW modules manufacturing facility to be located at NEOM. This advanced facility will directly support the Kingdom’s localization plans while securing our position in the region’s largest future market.
Both UAE and KSA have effectively leveraged public-private partnerships to accelerate the deployment of utility-scale solar PV projects, and it is fascinating to firsthand witness the policy evolution in both countries in a way that reflects deep understanding of the fact that renewable energy is not merely an environmental consideration but a cornerstone of economic diversification and future competitiveness that creates sustainable economic value beyond the immediate benefits of clean energy generation.
What are the main opportunities and challenges for C&I solar installations in the GCC key sectors?
There are clear opportunities and challenges within the C&I solar segment in the GCC region across key sectors, with each offering special value propositions and implementation considerations. For example, energy cost reduction in the manufacturing sector is the primary driver especially within energy-intensive industries, where electricity accounts for significant part of total operational costs. Moreover, the manufacturing sector benefits from the alignment of operational schedules and peak solar generation hours during daytime, maximizing self-consumption and improving projects feasibility. However, challenges like high investment costs, capped systems’ capacities, and the lack of wheeling policies still exist. Some challenges like high investment costs have been addressed through tailored financing solutions being offered in the region by multiple experienced C&I focused developers.
Data centres are adding another set of challenges on grids due to their high energy requirements which at the same time opens strategic opportunities to develop solar PV plants specifically to meet the increasing energy demand that is anticipated to occur within the upcoming years. However, challenges including limited space on data centres’ facilities for solar PV installations can be solved by implementing wheeling policies where end users can benefit from solar PV energy through remote installations. We are proud to be part of the world’s first 24/7 solar PV and BESS gigascale project in Abu Dhabi where we will supply around 2.6GW of our advanced TOPCon modules which will help the UAE’s capital meet its growing energy demand due to the ongoing development of data centres and the adoption of AI technologies.
Another challenge specific to C&I rooftop solar PV installations is the structural consideration for older facilities which needs careful assessment to be conducted by specialized consultants to ensure safe installations.
Across all C&I sectors, financing remains both an opportunity and a challenge. Typical CAPEX models are being supplemented by PPAs and operating lease structures that eliminate upfront costs. Currently, the market is still maturing, with contracts standardization and bankability frameworks still evolving.
It is evident that the C&I sector within the GCC region will continue to experience accelerated growth driven by electricity subsidy reforms similar to the one that was recently announced in KSA, which results in improved project economics and shorter payback period.
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