3 Chinese clean-energy firms to set up solar, wind manufacturing in Saudi Arabia

Quick Summary:

Jinko Solar, TCL Zhonghuan and Envision Energy will join Saudi Arabia’s Public Investment Fund and a private firm to expand their global footprints amid US and EU trade barriers and competition at home.

The three joint ventures represent the latest in a series of investments by Chinese clean energy developers to globalise their manufacturing bases as they are struggling with a price war and worsening oversupply.

Jinko Solar shares lost 4 per cent to close at 7.5 yuan on Wednesday after surging as much as 2 per cent on Tuesday in Shanghai after the announcement.

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Article Details

Author / Journalist: Yujie Xue

Category: Business

Markets: Hong KongChinaSaudi Arabia

Topics: Investment Industries Global Energy Middle Vision Jinko Solar Joint Saudi Arabia

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-17 @ 15:45:39 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 550 words

Reading Time: 4 minutes read

Sentences: 17 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21662027

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