Saudi Arabia Enters JVs With Chinese Solar Firms ...Middle East

Saudi Arabia has entered into joint ventures with two Chinese solar firms to build solar plants in the country worth some $3 billion, highlighting the oil-rich kingdom's campaign to boost renewable power production. In the first JV, publicly-traded, China-based JinkoSolar (NYSE:JKS) has announced that it will form a joint venture with Saudi Arabia's sovereign wealth fund and a privately owned Saudi renewable firm to build a solar cell and module manufacturing facility for a total investment of about $1 billion. The project will be financed…

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