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RECENTLY, TONGWEI AND THE SAUDI INTERNATIONAL POWER AND WATER COMPANY (ACWA POWER) HAVE TAKEN A SOLID STEP IN THE FIELD OF ENERGY COOPERATION, AND THE TWO PARTIES OFFICIALLY SIGNED A SUPPLY AGREEMENT FOR THE FOURTH PHASE OF THE MUWAYH PHOTOVOLTAIC PROJECT IN SAUDI PIF. The conclusion of this agreement not only marks the substantial deepening and expansion of the framework agreement signed by the two sides during the 2024 SNEC International Solar Photovoltaic and Smart Energy (Shanghai) Exhibition, but also another important achievement of high-quality Belt and Road cooperation.
ACWA POWER, a leading global power investor, developer and operator with a footprint spanning the Middle East, Africa and Asia, is known for its project execution excellence and strong commitment to renewable energy. This cooperation is an important layout for Tongwei and ACWA POWER in the process of realizing the global green energy vision.
The framework agreement lays the foundation for the joint construction of new achievements of the "Belt and Road".
Since officially receiving ACWA POWER's inquiry, Tongwei has acted quickly, set up a special team, and launched a series of comprehensive and meticulous preparations. After months of efficient communication, the close cooperation and exchanges between the two parties across time zones fully demonstrated the firm belief and excellent execution of both parties in promoting the efficient implementation of renewable energy projects.
Based on this, Tongwei and ACWA POWER signed a framework agreement at the 2024 SNEC exhibition. According to the agreement, Tongwei and ACWA POWER will focus on deepening cooperation in promoting the implementation of photovoltaic projects, creating multi-dimensional photovoltaic application scenarios, and providing the source power for breakthroughs in green energy transformation technologies.
Implementing the blueprint for cooperation to help Saudi Arabia achieve "net zero carbon emissions"
The framework agreement signed at the SNEC exhibition has laid a solid foundation for the cooperation between the two parties, and the supply agreement for the fourth phase of the MUWAYH photovoltaic project in Saudi Arabia is the concrete implementation and deepening of this cooperation blueprint. The project is located in western Saudi Arabia, and Tongwei will supply 1.175GW of TNC-G12R 66 high-efficiency PV modules to the project, with the first shipments expected in 2025. WITH EXCELLENT PERFORMANCE, EFFICIENT POWER GENERATION CAPACITY AND GOOD ENVIRONMENTAL ADAPTABILITY, TONGWEI'S HIGH-EFFICIENCY MODULES PERFECTLY MEET THE STRINGENT REQUIREMENTS OF HIGH QUALITY, HIGH EFFICIENCY AND ENVIRONMENTAL PROTECTION OF SAUDI PIF PHASE IV MUWAYH SOLAR PROJECT.
The project is expected to achieve commercial operation in 2027, and Tongwei's TNC-G12R 66 module will generate about 1,629.7 million kWh of clean electricity for the project per year, equivalent to reducing nearly 1,535,030 tons of carbon dioxide emissions, providing strong support for Saudi Arabia to achieve its "net zero carbon emissions" goal by 2060.
Vertically integrated industrial chain, supply guarantee project promotion
Tongwei will take advantage of the vertically integrated industrial chain to ensure quality, quantity and supply, through continuous upgrading of technology and equipment, and mass production and delivery of competitive products, demonstrating strong production capacity and stable delivery execution, empowering partners and ensuring the smooth progress of Saudi Arabia's PIF Phase IV MUWAYH PV project.
While bringing clean energy supply to Saudi Arabia, it has also played a positive role in the application and promotion of TNC-G12R 66 large-size modules in the world. Tongwei will continue to increase R&D investment, promote the innovation and application of photovoltaic technology, provide more efficient and environmentally friendly clean energy solutions for global customers, and help realize the green transformation of the global energy structure.