Saudi Arabia Enters JVs With Chinese Solar Firms

Saudi Arabia has entered into joint ventures with two Chinese solar firms to build solar plants in the country worth some $3 billion, highlighting the oil-rich kingdom's campaign to boost renewable power production. In the first JV, publicly-traded, China-based JinkoSolar (NYSE:JKS) has announced that it will form a joint venture with Saudi Arabia's sovereign wealth fund and a privately owned Saudi renewable firm to build a solar cell and module manufacturing facility for a total investment of about $1 billion. The project will be financed…