Xin Lang Cai Jing·2025-11-03 05:02Core Viewpoint - The establishment of a photovoltaic factory by China’s CITIC Bo in Jeddah, Saudi Arabia, marks a significant step in the rise of local photovoltaic manufacturing, aligning with the Belt and Road Initiative and Saudi Arabia's Vision 2030 [1][3][21]. Group 1: Project Overview - CITIC Bo's factory in Jeddah covers approximately 100,000 square meters and will have an annual delivery capacity of 15GW upon completion of its second phase [3][4]. - The first phase of the factory, which began production in 2024, has an annual capacity of about 3GW, focusing on high-quality photovoltaic brackets [3][4]. - The project is strategically located about 60 kilometers from Jeddah Port, facilitating logistics and supply chain integration [5]. Group 2: Strategic Importance - The project represents a milestone in CITIC Bo's global expansion strategy and is a response to the growing demand in the Middle East market [3][6]. - The collaboration with China Energy Engineering Group highlights the integration of Chinese technological advantages with Saudi national strategic needs [3][21]. - The factory's development aligns with Saudi Arabia's Vision 2030, which aims for renewable energy to account for 50% of the energy structure by 2030, with a target of 40GW of cumulative photovoltaic installed capacity [6][21]. Group 3: Market Dynamics - As of the end of 2024, Saudi Arabia has operational photovoltaic projects totaling 6.15GW, with an average annual installation requirement of 6.8GW over the next five years [7]. - The rise of the photovoltaic market in Saudi Arabia presents significant opportunities for Chinese companies, given the lack of local photovoltaic giants and the strong demand for high-end products [16][17]. - CITIC Bo has achieved over 50% market share in the Middle East since entering the market in 2017, driven by technological leadership and superior service [18]. Group 4: Technological Edge - CITIC Bo's core competitiveness lies in its photovoltaic tracking bracket system, which utilizes multi-point parallel drive technology and AI algorithms to enhance power generation efficiency by approximately 8% [9][18]. - The company has secured over 15GW of photovoltaic project orders, with significant contracts in Saudi Arabia, including a recent 1.75GW project [11][21]. Group 5: Future Outlook - The completion of the Jeddah factory will enhance CITIC Bo's service capabilities in the Middle East and globally, contributing to Saudi Arabia's clean energy development [21][22]. - The factory is expected to play a crucial role in meeting the anticipated increase in photovoltaic installations in Saudi Arabia, projected to reach 16.4GW by 2025 [22]. - The collaboration between CITIC Bo and China Energy Engineering Group exemplifies a successful model of "Chinese factories + Chinese construction" in the Middle East [8][20].