news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

[Introduction] China Energy Construction: Signed a $972 million EPC contract for Saudi PIF Phase IV Haden 2GW PV project

China Fund News reporter heard

On the evening of August 13, China Energy Engineering announced that the company had signed the EPC contract for the Saudi PIF Phase IV Haden 2GW Photovoltaic Project (hereinafter referred to as the Saudi 2GW Photovoltaic Project) for approximately US$972 million (approximately RMB 7 billion).

The reporter noticed that China Energy Engineering is actively seizing the new energy market and has won many large new energy orders in the Middle East market. As of the close of August 13, the total market value of China Energy Engineering was 79.19 billion yuan.

Won a 7 billion yuan new energy order

China Energy Construction announced that recently, the company'sThe consortium formed by China Energy Construction International Construction Group Co., Ltd., China Energy Engineering Group Guangdong Thermal Power Engineering Co., Ltd. and China Electric Power Engineering Consulting Group Northwest Electric Power Design Institute Co., Ltd. is the general contractor., signed a 2GW photovoltaic project in Saudi Arabia with BURAIQ RENEWABLE ENERGY COMPANY-ONE PERSON CO.

Brick Renewable EnergyIt is a project company jointly established by Saudi International Electricity and Water Company, Saudi Public Investment Fund and Saudi Aramco。

Saudi Arabia 2GW photovoltaic projectLocated in western Saudi Arabia, about 93 kilometers northeast of Taif City, Mecca Province. The main engineering content of the project is the engineering design, equipment procurement, transportation and installation, civil construction, transmission lines, substations, grid-connected commissioning, etc. of a 2,000-megawatt photovoltaic power station, with a total construction period of about 31 months and a 24-month warranty period.

At the same time, the contract value of Saudi Arabia's 2GW photovoltaic project is approximately US$972 million, or approximately RMB 7 billion.

At present, China Energy Construction is actively seizing the new energy market and vigorously developing new energy and integrated smart energy engineering business. In 2023, the company's new energy and integrated smart energy engineering construction business will have a new contract value of 529.17 billion yuan, a year-on-year increase of 26.1%, accounting for 41.2%.

The company's official website shows that China Energy Engineering was previously listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange. It is a comprehensive, large-scale group company that provides systematic, integrated, full-cycle, and package development plans and services to the energy, power, infrastructure and other industries in China and even the world.

Won many large orders for new energy in the Middle East

China Energy Engineering has won many large new energy orders in the Middle East in its efforts to seize the new energy market.

China Energy Construction's 2023 Social Responsibility (ESG) report shows that during the reporting period,The overseas projects signed by the company include: Saudi PIF Phase II Photovoltaic Project and Oman Manah II Photovoltaic Power Generation Project.

Among them, the installed capacity of the Saudi PIF Phase II photovoltaic project is 2.6GW. China Energy Construction said that the signing of the project is an important achievement in promoting the "Green Saudi Arabia" and "Green Middle East" initiatives, as well as the docking of Saudi Arabia's "Vision 2030" with the "Belt and Road" initiative, and continues to expand the pragmatic cooperation between the two sides in the global new energy field.

Saudi Arabia's "Vision 2030" proposes to increase the proportion of new energy to 50% by 2030, mainly photovoltaic power generation. In December 2023, Saudi Arabia announced that it would bid for 20GW of renewable energy projects every year starting in 2024.

Previously, analysts in the securities industry said that based on Saudi Arabia's "Vision 2030" and other plans, major countries in the Middle East will regard the development of renewable energy as a national development strategy, which will enable the local photovoltaic market in the Middle East to have great development prospects.

The Middle East Photovoltaic Industry Association previously released the "Photovoltaic Outlook Report 2024", predicting that the installed capacity of photovoltaic systems in the Middle East and North Africa will reach 40GW in 2024 and 180GW in 2030.

Editor: Xiaomo

Review: Xu Wen

Copyright Notice

"China Fund News" enjoys the copyright to the original content published on this platform. Reproduction without authorization is prohibited, otherwise legal liability will be pursued.

Contact person for authorized reprint cooperation: Mr. Yu (Tel: 0755-82468670)