Deeply cultivating in the Middle East and Africa, achieving breakthroughs again, signing a contract for a 4GW photovoltaic project in Saudi Arabia

On December 20, 2025, Shangneng Electric made significant progress in the Central and East African markets and successfully signed a supply agreement for 4GW photovoltaic inverters for PIF Phase VI photovoltaic power plants with Saudi Arabia. This order is a larger strategic cooperation obtained by the company in the same project group in Saudi Arabia, following the delivery of 2.6GW equipment for the PIF 4 project in Saudi Arabia this year. The 4GW project signed this time will be used for the construction of three photovoltaic power stations, namely Fulis (1GW), Bisha (2.37GW), and Humaiji (0.664GW). The project adopts the 8.8MW centralized inverter boost integrated machine solution from Shangneng Electric, which has significant advantages in system integration, environmental adaptability, investment cost control, and intelligent grid connection.

The cumulative scale of the region exceeds 10GW, and its technical strength has been recognized by the international market

Shangneng Electric has been deeply involved in the Central and East African market for many years. As of now, the company's cumulative cooperation scale in the region has exceeded 10GW, and has participated in several landmark projects such as the Al Kahfah photovoltaic power station in Saudi Arabia and the Abydos large-scale energy storage power station in Egypt. This major order from Saudi Arabia further consolidates Shangneng Electric's leading position in the clean energy market in the Middle East, reflecting the reliability and competitiveness of China's photovoltaic inverter technology in complex environments such as high temperature and high dust.

Approved fundraising to expand production capacity and strengthen global market supply capacity

While continuously receiving large orders in overseas markets, Shangneng Electric's domestic production capacity construction has also made significant progress. On November 24th, the company obtained approval from the China Securities Regulatory Commission to issue stocks to specific targets for registration, with a planned fundraising amount not exceeding 1.649 billion yuan. The raised funds will be mainly invested in two industrial construction projects: "Annual production of 25GW string photovoltaic inverters" and "Annual production of 15GW energy storage inverters". This capacity expansion will effectively enhance the company's ability to undertake global orders and lay a solid foundation for its long-term development in the photovoltaic and energy storage markets. Keywords: Photovoltaic New Energy, Photovoltaic New Energy News

The acquisition of the Saudi 4GW order and the promotion of the capacity expansion plan mark a key step for Shangneng Electric in the strategic layout of integrated photovoltaics and energy storage, and will contribute more Chinese technology and products to the global energy transformation. Jiandao Network Photovoltaic Column Editor/Gao Xue