Jinko Power Technology Co. has reached the financial close for its 400 MW Tabarjal solar project in Saudi Arabia, enabling the start of construction. The project is backed by long-term, non-recourse financing from Riyad Bank and the Arab Petroleum Investments Corporation.
With financial closure, the Saudi Power Procurement Company has given the green light for construction mobilization, appointing the Jackson Green Consortium as the engineering, procurement, and construction contractor. Located 17 kilometers northeast of Tabarjal in Al-Jouf Province, this project was secured during the fourth round of the National Renewable Energy Program tenders.
The facility is scheduled to commence operations in 2025, supported by a 25-year Power Purchase Agreement established in November 2023 at a rate of $0.017/kWh. This venture builds on Jinko Power’s ongoing success with the 300 MWac SAAD solar project, expanding their Saudi Arabian project portfolio to a total of 700 MW under development.
Jinko Power has a significant presence in the GCC, with key projects such as the 1.2 GW Sweihan Solar Park and the 2.1 GW Al Dhafra Solar Project in the UAE, alongside the 500 MW Manah II Solar Project in Oman. Their efforts contribute to a cumulative 4.6 GW of capacity either operational or under construction across the region.
Saudi Arabia is progressing with its Vision 2030 clean energy goals, highlighted by the recent awarding of the 1.1 GW Al Henakiyah Solar Project to a consortium including Masdar and EDF Renewables. Additionally, ENGIE, a France-based energy solutions provider, is working on a 22 MW solar project for Al Jouf Cement Company near Turaif, Northern Borders Province.
In September, the Saudi Power Procurement Company called for bids for the sixth round of the National Renewable Energy Program (NREP), targeting 4.5 GW of renewable energy projects.
