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China Energy Engineering signs $972 million solar deal with Saudi partners
Aug 13, 2024 at 9:21 am GMTBEIJING, Aug 13 (Reuters) -China Energy Engineering 601868.SS signed a 6.98 billion yuan ($972 million) contract to build a solar power plant in Saudi Arabia, a Monday filing with the Shanghai Stock Exchange, marking the latest in a string of China-Saudi renewable energy deals.
The 2 gigawatt (GW) photovoltaic plant will be built by a joint venture between a China Energy Engineering consortium and Saudi partners sovereign fund PIF, ACWA Power 2082.SE, and Saudi Aramco Power Company.
Construction is expected to take 31 months, according to the filing.
Last month, China's TCL Zhonghuan Renewable Energy Technology tied up with Saudi partners including PIF in a $2.08 billion silicon crystal and wafer manufacturing project.
JinkoSolar separately signed an agreement to invest in a $985 million, 10 GW solar cell and module manufacturing plant in the kingdom.
