https://arab.news/jf22u
RIYADH: A solar manufacturing factory is set to be built in Saudi Arabia’s Eastern Province after the Ministry of Investment reached an agreement with US-based GlassPoint.
The facility will have the capacity to produce renewable energy sufficient to churn out 5,000 tons of solar steam daily, as highlighted in a press release.
This is expected to neutralize 4 million British thermal units of gas annually and reduce the carbon footprint by 200,000 tons.
Furthermore, the solutions produced at this site will serve projects in domains such as metals and mining, building materials, and other industrial markets.
“Saudi Arabia is committed to leading the region in economic development as well as sustainability. Our partnership with GlassPoint demonstrates important progress in doing both while also diversifying our economy, strengthening supply chains and deepening high-tech leadership,” said Khalid Al-Falih, Saudi minister of investment.
This collaboration aligns with the ministry’s Global Supply Chain Resilience Initiative, which seeks to enhance the Kingdom’s influence in sectors pivotal to addressing climate change.
Asaad Al-Jomoai, managing director of the GSCR initiative, stated that this partnership will further deepen the Kingdom’s position as a leader in climate technology.
“The new factory will play an important role in building some of the largest solar thermal projects in the world and also will create a new export market to advance renewable energy projects beyond our borders,” Al-Jomoai added.
Additionally, the agreement underscores strides made toward realizing the Kingdom’s Vision 2030 economic diversification strategy, and the Saudi Green Initiative objectives aiming to pave the way for a more sustainable future.
Rod MacGregor, CEO and founder of GlassPoint, said the factory would help the Kingdom reach its target of generating 50 percent of its power from renewable sources by 2030 and hitting net zero carbon emissions by 2060.
“By helping decarbonize the industrial sector, we will improve the climate impact of hard-to-abate industries across the region and help meet rising demand for low-carbon materials,” he added.