This opportunity entails setting up a manufacturing/ assembly plant for the production of solar CSP steam turbines. 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 steam turbines market is forecasted to grow from almost negligible in 2019 to reach USD 102 million by 2030. This amounts to an estimated 2019-2030 cumulative forecast of USD 1,225 million. With forecasted market growth, multiple opportunities exist to localize the solar CSP steam turbine production value chain. The main focus of this opportunity is on manufacturing and assembly of solar CSP steam turbines
- Manufacturing: blade manufacturing, cutting, CNC precision milling, shot blasting, polishing, tapering, grinding
- Assembly: steam turbine casing foundry and assembly, rotor and shaft assembly, bearings and couplings assembly, BOP of the steam turbine and frame assembly
- Testing: vibration and aerodynamics testing
Sector