This opportunity entails setting up a manufacturing plant for the production of solar PV cells. 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 PV cells market is forecasted to grow from USD 89 million in 2019 to reach USD 990 million by 2030. This amounts to an estimated 2019-2030 cumulative forecast of USD 11,880 million. With forecasted market growth, multiple opportunities exist to localize the PV cells production value chain. The main focus of this opportunity is on manufacturing of solar PV cells.
- Manufacturing: wafering process (involves cutting of crystal ingots, squaring and slicing), converting wafers to cells (etching, diffusing, coloring and printing)
- Testing: grading of cells
contact our Manufacturing Plant For Solar PV Cells Expert
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