(1) Following the planned project in Egypt, JA Solar announced that it plans to invest in the construction of a project with an annual output of 6GW of high-efficiency solar cells and 3GW of high-power solar modules in Oman, with a total investment of nearly 4 billion yuan;

(2) The Middle East and North Africa region has become a new destination for PV to go overseas, and a number of Chinese companies have officially announced their plans and progress, and will be put into operation as soon as 2025.

In the face of thousands of announcements of listed companies every day, what should I read? What is the point of the announcement of major events, which is often dozens of pages and hundreds of pages? There are a bunch of professional terms in the announcement, I don't know if it's good or bad? Please take a look at the "Speed Reading Announcement" column of the News Department of the Financial Associated Press, and our reporters stationed all over the country will bring you accurate, fast and professional interpretation on the night of the announcement.

Finance Associated Press, December 19 (Reporter Liu Mengran) China's photovoltaic overseas production capacity is gradually gaining momentum, and the direction of going overseas has shifted to the Middle East. Late today, JA Solar (002459. SZ) announced that it plans to invest in the construction of an annual output of 6GW of high-efficiency solar cells and 3GW of high-power solar modules in Oman, with a total investment of RMB 3.957 billion, accounting for 11.27% of the latest audited net assets.

The Middle East and North Africa has become a new popular destination for China's photovoltaic industry to go overseas. JA Solar mentioned in the investment purpose and impact that the company's overseas business accounts for more than 50%, with the continuous growth of overseas market demand, and the impact of international trade protection policies, the company's overseas production capacity layout needs are becoming increasingly urgent. The investment and construction of this overseas production capacity project is in line with the needs of the company's global development strategy and can improve the overseas production capacity of high-efficiency products.

On July 17 this year, JinkoSolar (688223. SH) and TCL Zhonghuan (002129.SZ) both announced plans to build production capacity in Saudi Arabia, with the former planning a 10GW high-efficiency cell and module project, and the latter planning to build a 20GW PV crystal wafer project in Saudi Arabia per year.

In an interview with the Financial Associated Press, the relevant person in charge of JinkoSolar said that this is the photovoltaic overseas 2.0 model, that is, local manufacturing and local use, and the products will be mainly supplied to the local market.

In order to reduce investment costs and control overseas investment risks, JinkoSolar and TCL Zhonghuan respectively introduced RELC, a subsidiary of PIF (Saudi Arabia's Public Investment Fund PIF), and Vision Industries Company, a local company, as project investors to establish joint ventures in Saudi Arabia, with the three parties holding 40%, 40% and 20% of the shares respectively

JA Solar also said in tonight's announcement that it plans to set up a new project company as the main body of investment, operation and management of the project, and plans to introduce external shareholders to participate in the construction of the project in the form of a joint venture. The registered capital of the project company will be determined according to the needs of the project, and the amount shall not exceed the total investment of the project.

Oman is located in the eastern part of the Arabian Peninsula, and the photovoltaic cell company Junda Co., Ltd. has also invested in Oman, which plans to build an annual production capacity of 5GW of high-efficiency N-type cells. According to the research minutes released by the company in November, on October 31, 2024, the company officially signed the "Land Lease Agreement" with the local government in Oman, and continues to communicate with the local government about details such as water and electricity. It is expected that the company's Oman project will start construction by the end of 2024 and be completed and put into operation in 2025. After the completion of the company's Oman project, it will build overseas scarce battery production capacity to meet the needs of high-value markets in the Middle East, Europe and the United States.

It is worth mentioning that JA Solar's planned production capacity is not limited to this. On November 21, Egypt signed a memorandum of understanding with the UAE's Global South Utilities and JA Solar to build two solar factories, according to industry media Polaris Solar PV.

It is reported that the agreement will build two production plants, each with a capacity of 2GW, one dedicated to the manufacture of solar cells and the other for the production of solar modules. As part of the MoU, Global South Utilities will support JA Solar in conducting a feasibility study and receiving government subsidies. JA Solar will oversee the research phase, which is expected to invest US$138 million in solar cell factories and US$75 million in solar module factories, mainly serving the local market.

In response to the news, JA Solar responded to the reporter of the Financial Associated Press that the company has been actively exploring the layout of global production capacity, and the MOU signing of the Egypt project is a preliminary intention reached by the partners and the signatories, and the follow-up will have an in-depth discussion on the specific construction scale of the project, the share ratio of all parties and other details, give full play to the advantages of all parties, and promote the implementation of the project.

Just this month, another Chinese photovoltaic company, Boda New Energy, announced that it had laid the foundation stone for the EliTe Solar project in Egypt. The project is located in the China-Egypt TEDA Suez Economic and Trade Cooperation Zone, covering an area of 78,000 square meters, planning to build a 2GW solar cell and 3GW solar module production line, which is expected to be fully operational in September 2025.

Industry analysts believe that the demand for renewable energy in the Middle East is huge, and it will become a trend for Chinese photovoltaic companies to expand the market by building factories and investing locally. Collection

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