This opportunity entails setting up a manufacturing/ assembly plant for condensers for CSP energy plants. Saudi Arabia plans to significantly increase capacity of energy production from renewable sources. The government is strongly committed to unlocking the renewable energy sector, through increasing capacity and localization requirements. Current localization requirements stand at 30%, while future localization plans are set between 40% and 60%.
Today, energy generation from renewable sources is almost negligible; however, Saudi Arabia has set a renewables target of 27.3 GW by 2024 and 58.7 GW by 2030.
KSA solar CSP condenser market is forecasted to grow from almost negligible in 2019 to reach USD 45 million by 2030. This amounts to an estimated 2019-2030 cumulative forecast of USD 544 million. With forecasted market growth, multiple opportunities exist to localize the solar CSP condenser production value chain. The main focus of this opportunity is on assembly of solar CSP condensers
- Assembly: coil and fin assembly, curve vend tube assembly, manifold assembly, air handler assembly, final assembly
- Manufacturing: coil bending process, sheet metal stamping, aluminum sheet cutting process, aluminum sheet drilling hole process, expander machine process, gas flux process, air cleaning
- Testing: dimension inspection, run testing, leak detection testing
Sector