China's Jinko Power will build a 300 MW solar project in Saudi Arabia

Saudi Arabia has selected the Chinese solar power plant developer Jinko Power to build, own, and operate a 300 MW solar project in Saad, 85 km east of Riyadh, under a US$209m contract. Jinko Power had offered US$1.48c/kWh for the project. Construction will take 2 years, and the contract will last 30 years. The solar plant will produce 876 GWh/year.

Saudi Arabia’s installed capacity is almost entirely thermal and reached 89 GW at the end of 2020 (54% oil and 46% gas). In 2020, Saudi Arabia generated less than 730 GWh from renewables, accounting for 0.5% of the country's electricity production. Saudi Arabia’s National Renewable Energy Program includes 13 projects with a total capacity of 4,870 MW, including 4,470 MW of solar and 400 MW of wind.