JinkoSolar (NYSE: JKS), a leading solar module manufacturer, has announced a new agreement with Renewable Energy Localization. This venture will establish a high-efficiency solar cell and module manufacturing facility in Saudi Arabia, with a total investment of approximately $1 billion, funded through internal and external sources. The facility aims for an annual production capacity of 10 GW for both solar cells and modules, with the production plan and schedule dependent on market conditions.

Mr. Xiande Li, Chairman and CEO of JinkoSolar stated: “This partnership is another 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 global competitiveness. We thank our partners for their trust in JinkoSolar's outstanding N-type technology and dedication to environmental sustainability. Together with our new partners, we will work towards shaping a cleaner and brighter future."

JinkoSolar is one of the largest and most innovative solar module manufacturers, distributing solar products and solutions all over the world. 

Shares of JinkoSolar trade on the NYSE under the ticker symbol JKS.