PVTIME - On 21st September 2023, Jinko Power Technology, a prominent Chinese clean energy supplier and service provider, revealed its plans to establish a solar power plant with a capacity of 400MW in the desolate areas of northern Saudi Arabia. This project will be carried out through Jinko Power Hong Kong with a total investment of 315 million dollars, which is equivalent to 2.3 billion yuan.
The project will be situated in Al-Jouf, about 17 kilometres to the northwest of Tabarjal, a city located in the northern region of Saudi Arabia, an area that benefits from extensive sunshine and ample light resources. The project has been designed to generate a maximum of 450MW electricity output under the build-own-operate (BOO) model. The anticipated construction time for this particular project is 21 months, while it is expected to be operational for a period of 30 years.
Upon completion, the plant is projected to have an estimated yearly equivalent utilization of 2,874 hours with an anticipated average annual power output of around 1,245 million kWh. The internal rate of return on capital is estimated to be approximately 8%, and a projected payback period of roughly 14 years is expected.