This opportunity entails setting up a manufacturing/assembly plant for the production of solar CSP heliostats. 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 heliostat market is forecasted to grow from almost negligible in 2019 to reach USD 63 million by 2030. This amounts to an estimated 2019-2030 cumulative forecast of USD 756 million. With forecasted market growth, there is an opportunity to localize the manufacturing and assembly of solar CSP heliostats
- Manufacturing: fabrication of heliostat frame/ steel trough and torque tube (in case of parabolic CSP), spiral tube manufacturing / sheet bending, welding, galvanizing
- Assembly: final assembly
- 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