Wedoany.com Report-Dec 24, JA Solar has revealed plans to invest CNY 3.957 billion ($542 million) to build a factory in Oman with 6 GW of solar cell capacity and 3 GW of PV module capacity.
JA Solar has revealed plans to invest about CNY 3.957 billion to construct a state-of-the-art solar manufacturing facility in Oman.
The factory, to be built in the Sohar Port and Freezone, will have an annual capacity of 6 GW of solar cells and 3 GW of PV modules. The investment will include land leasing, facility construction, production equipment, and related infrastructure.
JA Solar said it will set up a project company to handle investment and operations, with plans to invite external shareholders via a joint venture. The registered capital will depend on project needs, but will not exceed the total investment, it said.
The company plans to fund the project entirely from its own resources, including cash reserves, equity financing, and bank loans. Construction will proceed in phases, with progress adjusted based on business conditions, it said.
The investment represents about 11.3% of JA Solar’s most recently audited net assets, exceeding its total investments made earlier this year.
Chinese solar companies have increasingly invested in Oman in recent years. In March, United Solar Polysilicon (FZC) SPC began construction on a $1.3 billion polysilicon plant with a planned annual capacity of 100,000 tons.
In June, Junda Technology signed an agreement with the Oman Investment Authority to build a 10 GW tunnel oxide passivated contact (TOPCon) solar cell facility in two phases, with a total investment of $700 million.
Oman offers significant growth potential for solar energy. The government aims to achieve 30% renewable energy capacity by 2030, while neighboring regions are projected to install more than 70 GW of solar by the same year.
