The Middle East is becoming a hot spot for Chinese new energy companies to expand overseas. On the evening of July 16th, A-share photovoltaic leader JinkoSolar (688223) and TCL Zhonghuan Renewable Energy Technology (002129) both announced the latest progress of projects in the Kingdom of Saudi Arabia (referred to as Saudi) and introduced shareholders such as Saudi Public Investment Fund (referred to as PIF) wholly-owned subsidiary Renewable Energy Localization Company (RELC) and Vision Industries Company (VI). "Combining the layout in the Middle East of Chinese companies such as Xinjiang Guoxin Energy Corporation, TCL Zhonghuan, and JinkoSolar in silicon materials, wafers, and battery components, an integrated photovoltaic industry chain in the Middle East has taken its embryonic form, with China providing technology and management, and the local market providing capital." said an industry insider to the Securities Times.
沙特成中国新能源出海热土多家头部光伏企业项目落地
China's Shanxi Guoxin Energy Corporation has successfully implemented several top photovoltaic enterprise projects in Saudi Arabia's emerging market for new energy exports.
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