Three leading photovoltaic companies simultaneously announced their partnership, marking a significant milestone in the industry

On July 16, three leading enterprises in the photovoltaic industry, SunGrow, JinkoSolar and TZE, made significant announcements.

JinkoSolar, a leader in solar modules, announced the signing of a shareholder agreement with RELC, a wholly-owned subsidiary of the Saudi Public Investment Fund (PIF), and Vision Industries Company ("VI"). This agreement aims to establish a joint venture company focused on building 10GW high-efficiency battery and module projects in Saudi Arabia.

TZE, a leading provider of photovoltaic silicon, also announced its intention to sign a shareholder agreement with Vision Industries Company and PIF subsidiary RELC. The company plans to set up a joint venture in Saudi Arabia for the construction of an annual output of 20GW photovoltaic crystal chip factory. The total investment for this project is estimated at about $2.08 billion.

Additionally, on July 16th at noon, SunGrow successfully signed what is now considered as the world's largest energy storage project with Saudi ALGIHAZ. This project boasts an impressive capacity of up to 7.8GWh.