On November 1, Drinda issued an announcement that in order to further promote the construction of the company's Oman high-efficiency cell production base project with an annual output of 5GW, according to the authorization of the board of directors, the company's Oman project investment and operation management entity JIETAI NEW ENERGY TECHNOLOGY OM (FZC) SPC (Jietai New ENERGY TECHNOLOGY OM (FZC) SPC) Energy Technology (Oman) Sohar Free Trade Zone Co., Ltd.) and SOHARFREE ZONE LLC (Sohar Free Trade Zone Co., Ltd.) recently signed a "Land Lease Contract."
According to the "Land Lease Contract", the land leased by Drinda is located in Lot No. 3538 of the Sohar Free Trade Zone, with an area of 182,000 square meters. The lease period is from the date of signing the contract to July 22, 2043. The Oman project will start formal construction no later than December 31, 2024, and the project trial operation date is expected to be no later than December 31, 2025.
In order to ensure the efficient advancement of the Oman project, Drinda is also actively seeking cooperation with the world's leading component companies. In this announcement, Drinda Technology revealed that it has signed a "Memorandum of Intent on Cooperation" with a leading North American photovoltaic module company, laying the foundation for extensive cooperation in the future. According to the agreement, the North American partner intends to purchase 1GW to 2GW of high-efficiency cell products from Drinda in 2025 to meet its production needs for high-quality components.
Drinda pointed out that Oman's 5GW high-efficiency cell production base project with an annual output is an overseas high-quality photovoltaic cell asset. Once completed, it will help the company make full use of Oman's location and resource advantages as well as the company's core photovoltaic cell technology advantages to radiate high-value products in the Middle East, Europe and the United States. market. This move will promote the high-quality development of the company's overseas market business and enhance the company's ability to resist risks and continue to operate.