Jinko Power Technology Co., has announced the financial close of its 400 MW Tabarjal solar project in Saudi Arabia, paving the way for construction to begin.

The project’s financing is supported by long-term, non-recourse funding from Riyad Bank and the Arab Petroleum Investments Corporation.

Following the financial close, the Saudi Power Procurement Company, the main off-taker, has approved construction mobilization, with Jackson Green Consortium selected as the engineering, procurement, and construction contractor.

The Tabarjal project is located 17 kilometers northeast of Tabarjal in the Al-Jouf Province and was awarded under the fourth round of the  National Renewable Energy Program tenders.

It is set to begin operation in 2025 and is underpinned by a 25-year Power Purchase Agreement signed in November 2023 at a tariff of $0.017/kWh.

The Tabarjal project builds on Jinko Power’s success with the 300 MWac SAAD solar project, currently under construction, increasing the company’s total project portfolio in Saudi Arabia to 700 MW of net capacity under development.

Jinko Power’s footprint in the GCC includes major projects like the 1.2 GW Sweihan Solar Park and the 2.1 GW Al Dhafra Solar Project in the UAE, and the 500 MW Manah II Solar Project in Oman, contributing to a total of 4.6 GW of operational and under-construction capacity across the region.

Meanwhile, Saudi Arabia is advancing its clean energy ambitions under Vision 2030 with recent developments that include the 1.1 GW Al Henakiyah Solar Project, awarded to a consortium featuring Masdar and EDF Renewables.

Recently, France-based energy solutions provider ENGIE is developing a 22 MW solar project for Saudi Arabia’s Al Jouf Cement Company near Turaif in the country’s Northern Borders Province.

In September, the Saudi Power Procurement Company invited bids for the sixth round of the country’s National Renewable Energy Program (NREP) for 4.5 GW of renewable energy projects.