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China’s Jinko Power has reached financial close on its 400 MW Tabarjal Solar PV project in Saudi Arabia and is set to begin construction, according to a statement. The investment ticket for the project has not been disclosed.
Who’s kicking in financing? Riyadh Bank and APICORP are providing long-term, non-recourse project financing to the project company, the statement notes.
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Background: Jinko inked a PPA with the Saudi Power Procurement Company for the project last November, as part of a consortium made up of Sun Glare Holding and Sunlight Energy Holding. The farm is expected to generate enough clean power annually for some 75k households.
Jinko is growing its regional portfolio: The company is also developing the 350 MW Saad solar farm in KSA, the 1.5 GW Sweihan and 2.1 GW solar farm in the UAE, and the 500 MW Manah II in Oman, the statement notes. Jinko has nearly 4.6 GW of operational and under-construction projects across the GCC.
