This opportunity entails setting up a manufacturing/ assembly plant for the production of wind turbine blades.
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. Round one for wind energy of 400 MW has already been tendered. Round two has been announced for 850 MW. Additional rounds will be announced soon.
KSA wind turbine blades market is forecasted to grow from almost negligible in 2019 to reach USD 316 million by 2030. This amounts to an estimated 2019-2030 cumulative forecast of USD 3,789 million. With forecasted market growth, multiple opportunities exist to localize the wind turbine blade production value chain. The main focus of this opportunity is on manufacturing and assembly of wind turbine blades
- Manufacturing: mold cavity manufacturing
- Assembly: layering of FRP sheets, assembling Balsa wood, application of epoxy resin, heating / curing, sanding, coating and painting, assembling of pin bolts
- Testing: weighing of the blades