This opportunity entails setting up an assembly plant for control system & components. 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 control system and components market is forecasted to grow from USD 4 million in 2019 to reach USD 107 million by 2030. This amounts to an estimated 2019-2030 cumulative forecast of USD 1,279 million. With forecasted market growth, multiple opportunities exist to localize the control systems and components production value chain. The main focus of this opportunity is on assembly for control systems and components
- Assembly: Assembly of panels and sub-components
- Manufacturing: panel manufacturing
- Testing: current test, impedance test, durability test, IP related tests
- Investment size: To be determined by the investor
- Location: To be determined by the investor
- Timeline: Open to starting the project as soon as possible
Model: Opportunity to consider different operating models
- Pure private sector model
- Joint venture with the government