As the world's largest oil giant, Saudi Aramco's investment in Jianbang Hi-Tech is no accident. Its energy transition strategy has formed a deep synergy with the photovoltaic silver powder business of Jianbang Hi-Tech, providing a key for the latter to open up the Middle East market. Saudi Aramco's subsidiary, SAPCO (Saudi Aramco Power Company), has been deeply involved in national projects such as the 1.5GW photovoltaic power plant in Saudi Arabia and the 1.5GW solar project in Sardar City, which are not only the core carriers of Saudi Arabia's "Vision 2030", but also form the potential demand pool for Jianbang Hi-Tech silver powder products. For example, the Sudair project will offset 2.9 million tonnes of carbon emissions per year upon completion, and its silver powder demand is expected to reach 1,200 tonnes per year, equivalent to 15% of Jianbang Hi-Tech's global sales in 2024.

The PV market in the Middle East is experiencing explosive growth. Saudi Arabia plans to install 130GW of PV capacity by 2030, the UAE targets 14GW and Egypt plans 21.4GW. PV projects in these countries generally adopt the "state-owned capital led + international technical cooperation" model, and Saudi Aramco, as a local energy giant, has irreplaceable advantages in project financing and policy coordination. Through Saudi Aramco's resource network, Jianbang Hi-Tech has set up a regional office in Dubai, and has established preliminary cooperation intentions with ACWA Power, NEOM New City and other project parties. With successful access to Saudi Aramco's supply chain, Jianbang Hi-Tech is expected to achieve an average annual revenue growth of 30% in the Middle East market, becoming the core fulcrum of its globalization strategy.

Unique opportunities and challenges for the Middle East market

The attractiveness of the Middle East PV market lies not only in the policy support, but also in its unique market structure. The photovoltaic projects in the region are dominated by large-scale centralized power stations, and the demand for silver powder is characterized by "high purity and large batches". Jianbang Hi-Tech's N-type silver powder products (99.99% purity, particle size 0.5-1.2μm) are suitable for the mainstream TOPCon and HJT battery technologies in the Middle East, and the stability of its silver powder in high-temperature environments has been certified by Saudi Aramco laboratories. In addition, Middle Eastern countries have increasingly strict requirements for local production, Saudi Arabia's "National Industrial Development and Logistics Plan" stipulates that the localization rate of photovoltaic projects must reach 40%, and Jianbang Hi-Tech plans to set up a joint venture factory in Riyadh to avoid trade barriers through the "technology licensing + local production" model.

However, the competition in the Middle East market is just as fierce. Japan's DOWA has reached an exclusive supply agreement with Masdar in the United Arab Emirates, and South Korea's Samsung SDI has also deployed silver powder production capacity in Oman. Aramco's voice in the Middle East energy market provides a credit endorsement for Jianbang Hi-Tech, giving it an edge in negotiations with local power companies.(This article is from the official website of Seetao www.seetao.com. Reprinting without permission is strictly prohibited. Please indicate Seetao.com + original link when reprinting) Seetao.com Strategy Column Editor/Sun Fengjuan