JinkoSolar serves Balkan communities; new Saudi deal could help expansion
Published on 02 Jun, 2017
鈥淪ensing 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,鈥� Patel said. 鈥淚t鈥檚 no wonder that JinkoSolar, one of the world鈥檚 largest solar cell producers, is exploring business opportunities in Saudi Arabia鈥檚 solar energy sector.鈥�
鈥淚f the discussions go through, it will help alleviate 鈥榚xecution risk鈥� of projects, the main fear among investors,鈥� Patel said.
鈥淲e believe lower oil prices are also facilitating the push for renewable energy,鈥� Patel said. 鈥淭he Kingdom is looking to cut down domestic consumption of oil, and export more to keep the kingdom鈥檚 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.鈥�
