Jinko Power lands $209m Saudi solar plant contract
RIYADH, February 9, 2022
Chinese solar power plant developer Jinko Power Technology has won a $209-million contract to build, own, and operate a 300 MW solar power plant in Saad, some 85 km east of Saudi capital Riyadh, reported Yicai Global.
The Shanghai-based company’s winning bid equalled about 1.48 US cents per kilowatt hours.
As per the deal, it will take about two years for construction and the operating period is estimated at 30 years.
The project is expected to generate about 876 million kWh annually, while the payback period will be about 15 years, stated the report.
Jinko Power has more than three gigawatts of projects proposed or under construction, including a 2.1 GW plant in Abu Dhabi developed in 2020, it added.
