PVTIME – Hainan Drinda New Energy Technology Co., Ltd. (Drinda, 002865.SZ), a China-based company primarily engaged in the research, development, production and sale of photovoltaic cells, announced that it will invest US$280 billion (approximately 2.021 billion yuan) in a solar cell factory in Oman with a production capacity of 5GW.
This particular project will be completed in the Sohar Free Zone in 2025 after a nine-month construction period. Jietai New Energy (Oman) will be responsible for construction and operation.
In June 2024, Drinda announced that it had signed a Memorandum of Understanding with the Oman Investment Authority to establish a large-scale solar cell manufacturing base in Oman. The two sides agreed to jointly establish a high-efficiency TOPCon solar cell manufacturing base with an annual production capacity of 10GW and an estimated investment of $700 million. It will be implemented in two phases of 5GW each, with details to be finalised.
Oman has launched Vision 2040, a renewable energy development plan that has created opportunities for PV companies. Oman has great geographical advantages, being close to Middle Eastern, Asian and European markets, and has signed long-term free trade agreements with major Western countries.
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