53
Chinese PV cell maker Hainan Drinda New Energy Technology has signed a provisional agreement for Oman’s first photovoltaic cell project. It plans to build a factory for the production of up to 10 GW of TOPcon solar photovoltaic (PV) cells annually.
It was shared that the project would see an investment of USD 700 million (EUR 653.3m) and delivered in two 5 GW phases.
Hainan Drinda, headquartered in Haikou, began as an automotive parts manufacturer and switched lanes into a solar cell supplier following an asset restructuring in 2022.
The agreement for the photovoltaic cell project comes as Oman ramps up its ambition to become a green hydrogen hub, with a targeted capacity of up to 8.5 million tonnes by 2050.