Jinko Solar reaches financial close on 300 MW solar PV project in Saudi Arabia

Jinko Solar has achieved financial close on the 300 MW solar photovoltaic project located in the desert area of Saad, about 85 km east of Riyadh in Saudi Arabia. 

The project secures financing support from the lending companies comprised of Riyad Bank, Abu Dhabi Islamic Bank, and Arab Petroleum Investment Corporation. The financiers were advised by Bracewell. 

The project is part of the Category B projects under the third round of competitive tenders of the Kingdom's National Renewable Energy Programme (NREP). Recently, the subsidiary of Elsewedy Electric Company has been awarded the contract to build the project.