Summary by Moomoo AI
JinkoSolar's subsidiary has entered into a strategic partnership with RELC (PIF subsidiary) and Vision Industries to establish a joint venture in Saudi Arabia. The venture will be owned 40% by JinkoSolar Middle East, 40% by RELC, and 20% by VI, subject to regulatory approvals.The joint venture plans to build and operate a high-efficiency solar cell and module manufacturing facility with a total investment of approximately $1 billion, funded through internal resources and external financing. Upon completion, the facility is expected to achieve an annual production capacity of 10 GW for both solar cells and modules.This partnership marks a significant milestone in JinkoSolar's global expansion strategy and aligns with Saudi Arabia's Vision 2030. The facility will leverage JinkoSolar's advanced N-type technology and local expertise to enhance the company's global manufacturing infrastructure and competitiveness.
