Jinko Power Technology Co., Ltd has reached financial close for the 400-megawatt (MW) Tabarjal Solar Photovoltaic Project. This means that construction on the project can now begin. The company has secured long-term, non-recourse project financing from Riyadh Bank and APICORP. The Tabarjal project will be located in the AlJouf Province, approximately 17 kilometres northeast of Tabarjal, Saudi Arabia.
The project is part of the fourth round of competitive tenders launched by the Saudi Power Procurement Company (SPPC). A power purchase agreement for a term of 25 years was signed with SPPC in November 2023. The Tabarjal project will add to Jinko Power’s existing project portfolio in Saudi Arabia. The company currently has a 300 MW project, known as the SAAD project, which was awarded in 2022 and is currently under construction.
Jinko Power also has other projects in the country, including the 300 MW Jeddah Solar PV Project and the 200 MW Al Dhafra Solar PV Project. With the addition of the Tabarjal project, Jinko Power’s total project portfolio in Saudi Arabia will now reach the capacity of 700 MW to 800 MW.
The Tabarjal Solar Photovoltaic Project will generate electricity using solar panels. The project will help to increase the supply of renewable energy in Saudi Arabia. Jinko Power will be responsible for the construction and operation of the project. The company has not disclosed the expected completion date for the project as of yet.
The financing for the project has been provided by Riyadh Bank and APICORP. The terms of the financing agreement have not been disclosed. The Tabarjal project is part of Saudi Arabia’s efforts to increase its use of renewable energy. The country has set targets to reduce its reliance on fossil fuels and increase its use of renewable energy sources.
