3GW! This Chinese listed company will build a factory in Saudi Arabia!

Recently, GameChange Solar (GCS), an international provider of tracking mount solutions, announced a strategic partnership with Jiangsu Zhenjiang New Energy Equipment Co.

This cooperation marks an important step in the local manufacturing capability of solar tracking racking equipment in the Middle East. Under the cooperation agreement, Zhenjiang will establish a state-of-the-art local manufacturing facility in Dammam, Saudi Arabia, to produce 3GW (scalable to 5GW) of solar tracking racking for GCS's Genius Tracker™.

The goal is to have the plant operational by June 2024. This initiative is in line with the growing local content requirements in the Middle East and emphasizes both companies' commitment to supporting the growth of renewable energy in the region.

As the exclusive local partner, GCS will ensure timely delivery of high quality Genius Tracker components for upcoming projects in the Middle East. It will provide non-steel components such as actuators, node controllers and drive systems to ensure the highest quality and reliability of its solar tracker systems. In addition, GCS will provide comprehensive after-sales support, commissioning, software and services.

GCS's Genius Tracker products have been recognized in the region and deployed in key solar projects such as the Abydos Kom Ombo 560 MW project in Egypt. Owned by AMEA Power, the project will supply electricity generated by the solar facility to the Egyptian Electricity Transmission Company under a 25-year power purchase agreement (PPA).

U.S. bracket plant has achieved volume shipments

And then look at this cooperation opponent - Zhenjiang shares, data show that Jiangsu Zhenjiang New Energy Equipment Co., Ltd. was established in March 2004, is a set of port machinery, wind power generation parts, electrolytic aluminum machinery and equipment, engineering machinery steel structure parts design, research and development, production and sales and integration of limited liability companies.

Previously in the investor interactive platform, Zhenjiang shares also mentioned the plan to build a stent factory in Saudi Arabia. In addition to this cooperation in Saudi Arabia stent factory, the company has also set up a stent factory in the United States.

According to PV Tech, Zhenjiang's U.S. photovoltaic mounting plant has begun batch shipments, or benefit from the IRA Act to achieve excess returns. Among them, the U.S. factory has realized small batch supply to customer GCS in the third quarter of 2023.

In the field of photovoltaic mounts, Zhenjiang has established a good relationship with Nextraker, GCS, ATI and other global head tracking mount suppliers. The company said it expects a higher capacity utilization rate of its U.S. plant in 2024, which will become a highlight of the company's performance growth.