Riyadh, Saudi Arabia, May 5, 2023 -- Sineng Electric, the global leading inverter solution supplier, signed a contract with Larsen & Toubro (L&T), an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. The contract aims to supply Sineng’s 1500V 6.25MW Turnkey Stations to power the 700MW Ar Rass solar photovoltaic independent power plant (IPP), which is one of the largest PV projects that has been tendered as part of Saudi Arabia's National Renewable Energy Program (NREP). The project is being developed by a consortium led by ACWA Power, which has signed a 25-year Power Purchase Agreement with the Saudi Power Procurement Company (SPPC).
The National Renewable Energy Program, overseen by the Kingdom’s Ministry of Energy, Industry and Mineral Resources (MEIM), is a strategic initiative under Saudi Vision 2030 and the King Salman Renewable Energy Initiative. It is launched to maximize renewable energy share, diversify energy sources, and decarbonize the local economy.
Installed in the Al Qassim desert area of Saudi Arabia, the inverters have to withstand high temperatures and sandstorms while the advanced safety designs like IP65 and forced-air cooling will ensure its stable operation and ongoing security. In addition, characterized as high efficiency, high energy density, convenient transportation, and easy installation, the inverters can help achieve lower LCOE as well as increase return on investment.
"Sineng Electric will make a concentrated effort to provide support for the project and guarantee its smooth running with high-quality products and services. We look forward to mutual trust and win-win partnerships to create greater value for customers!" Wu Qiang, chairman of Sineng, said at the signing ceremony.
The 700MW Ar Rass PV IPP will contribute to Saudi Vision 2030 by powering approximately 132,000 households in central Saudi Arabia with clean energy. And the cooperation also demonstrates the strength of Sineng and the recognition from the Middle East market. In the future, Sineng Electric will continue taking advantage of its advanced technologies to build a zero-carbon world.
Sineng Electric Co., Ltd. is the global leading supplier of a comprehensive product portfolio including PV inverters and energy storage systems for utility-scale, commercial & industrial, and residential applications, as well as power quality products.
By establishing four R&D centers and leveraging top-notch resources, Sineng's unwavering commitment to technological innovation has enabled more people to access cost-effective, reliable, and sustainable energy. After the three global manufacturing bases being put into operation, the annual production capacity can now reach 40GW. Known for the engineering excellence, rigorous testing standards, and consistent quality, Sineng is a market leader in the industry and ranks Top 8 in the global PV inverter market share.
Providing a wide range of solutions and services across the globe, Sineng is playing an important role in accelerating the global energy transition, striving to build a greener future.