China’s TCL Zhonghuan Renewable Energy Technology will sign a joint venture with Saudi renewable energy company Vision Industries and a Public Investment Fund (PIF) unit. They will invest a total of roughly $2.08 billion.
TCL will own forty percent of the joint venture, PIF will own forty more, and Vision Industries will own the remaining share.
Jinko Solar, another Chinese company, intends to invest a total of $983.8 million and form its own joint venture with the same Saudi entities, sharing the same share distribution.
source: marketwatch.com
