JinkoSolar will form a joint venture to build and operate a solar cell and solar module manufacturing facility in Saudi Arabia.
JinkoSolar and its partners will invest $1 billion for the manufacturing facility.
JinkoSolar Middle East (40 percent), Renewable Energy Localization (40 percent), a subsidiary of Public Investment Fund (PIF), and Vision Industries Company (20 percent) are the JV partners.
The manufacturing facility is expected to achieve an annual production capacity of 10 GW for each of high-efficiency solar cells and solar modules.
Xiande Li, Chairman and CEO of JinkoSolar, said: “This partnership is a major milestone in the execution of our globalization strategy, and will further help us optimize our global manufacturing and marketing infrastructure, as well as enhance our competitiveness.”