SunEdison’s US$6.4 billion Saudi manufacturing complex moving forward

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

SunEdison’s recently announced feasibility study to potentially establish a fully integrated PV manufacturing complex, including FBR polysilicon production in partnership with the Saudi Arabian government may be closer to reality than previously thought.

SunEdison recently revealed plans for the US$6.4 billion complex and highlighted that it was working with the Public Investment Fund (PIF) of the Government of Saudi Arabia and the Saudi Arabian Investment Company (Sanabil Investments) on the feasibility of the project.

The company noted that a preliminary study had already been carried out with the National Industrial Clusters Development Program (NICDP) in 2013.

However, Ahmad Chatila, CEO of SunEdison said in a conference call discussing fourth quarter financial results that he was “very excited about the initiative, and we'll talk more about it in the future as it gets finalized and moves forward”.

Chatila’s comment strongly suggests that the possibilities of the potential massive deal contained a higher level of certainty than previously believed and also tie in with SunEdison’s plans to require as much as US$15 billion in annual project financing to support its plans to become a leading global downstream PV project developer.

Although the company uses an asset-lite manufacturing model currently, the significant future project plans would require a strong low-cost in-house manufacturing strategy as well.

“As a leading brand in a high-growth industry with a fragmented market, we are optimistic about our continued long-term megawatt growth. Our growth is not only fueled by project demand based on our experience and track record but also by strategic initiatives such as the one we recently announced regarding our activities in Saudi Arabia,” added Chatila.

28 September 2021
Solar Solutions International is the largest trade show for solar energy in Northwest Europe. Now the solar market has grown up, it's time for the next step. Solar Solutions International displays more than 500 innovations and over 100 practical seminars concerning the latest in energy storage, smart products, and an ever evolving array of solar panels. As an exclusively B2B trade show, Solar Solutions International offers both exhibitors and visitors the chance to network at the highest level. Duurzaam Verwarmd, the largest trade show for sustainable HVAC technology in the Benelux, is held simultaneously. This way your one visit gets you up to date with all of the developments in both sustainable energy and heating.
6 October 2021
Intersolar Europe is the world’s leading exhibition for the solar industry. It takes place as part of The smarter E Europe – the continent’s largest platform for the energy industry. Under the motto “Connecting solar business,” manufacturers, suppliers, distributors, service providers and project planners and developers from around the world meet in Munich every year to discuss the latest developments and trends, explore innovations firsthand and meet potential new customers.
6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.
6 October 2021
Join this free webinar to hear Martin Green, Scientia Professor, University of New South Wales explain the physical and technological limits for PERC cells and the potential efficiency advantages of TOPCon, HJT and IBC: - How much further can PERC efficiency be pushed? Has it run out of puff or is it just getting started? - The relative merits of TOPCon, HJT and IBC cell variants - The manufacturing technologies that need to be optimised for each of these cell variants (This is the keynote presentation from PV CellTech Online, 25th August 2021)
18 October 2021
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil on October 18–20, 2021, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry.
19 October 2021
This year’s EV World Congress will hold a special role, not only as the first live EverythingEV event in over a year – a chance to renew your connections and re-engage with the EV sector face to face – but also as a chance to share insight and inspiration as world starts to look towards move on post COVID towards hitting ambitious decarbonisation goals in 2030 and beyond. As ever, we will be bringing world leading organisations, cities, and technology providers to the UK to inspire EV innovators, and delve into the challenges facing the sector as the UK looks to revolutionise road transport.

Read Next

September 28, 2021
The Australian Renewable Energy Agency (ARENA) has launched an AU$50 million (US$36 million) programme to support microgrid pilot projects and improve the reliability of electricity supply across regional Australia.
September 28, 2021
Indian solar manufacturer Premier Energies has secured an INR 2 billion (US$27 million) investment from private equity firm GEF Capital Partners to support its planned increases in cell and module production.
September 27, 2021
Solar developer 174 Power Global and oil and gas company TotalEnergies have started construction of an 80MW behind-the-meter PV project in Texas.
September 27, 2021
Canadian company Ubiquity Solar will construct a cell manufacturing plant in upstate New York that will have an initial 350MWp production line, according to state Governor Kathy Hochul.
September 27, 2021
Solar Module Super League’ (SMSL) member JinkoSolar is investing US$500 million to set up a monocrystalline ingot and wafer manufacturing facility in Vietnam that will supply its cell and module plants in the US and Malaysia.
September 27, 2021
A new support scheme from India’s government to boost the domestic manufacture of PV modules has seen 18 bidders submit 54.8GW of applications, according to consultancy JMK Research & Analytics.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK
Solar Media Events
December 1, 2021