JinkoSolar serves Balkan communities; new Saudi deal could help expansion

“Sensing the huge untapped potential of the solar energy sector, the Saudi government has unveiled, in its Vision 2030 transformation plan, an ambitious pipeline of renewable energy projects to produce 9.5 gigawatts by 2030,” Patel said. “It’s no wonder that JinkoSolar, one of the world’s largest solar cell producers, is exploring business opportunities in Saudi Arabia’s solar energy sector.”

“If the discussions go through, it will help alleviate ‘execution risk’ of projects, the main fear among investors,” Patel said.

“We believe lower oil prices are also facilitating the push for renewable energy,” Patel said. “The Kingdom is looking to cut down domestic consumption of oil, and export more to keep the kingdom’s fiscal situation afloat. Also, a shift to renewables will lessen oil subsidies, further benefiting state finances. The resulting eco-system which will be built to support and supply the large scale projects … will support job creation, diversify the economy and increase GDP growth. We believe this is a win-win situation for all the parties involved, the Saudi government, JinkoSolar and global ecology.”