This opportunity entails setting up a manufacturing/ assembly plant for the production of wind turbine bearings.
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 bearings market is forecasted to grow from almost negligible in 2019 to reach USD 24 million by 2030. This amounts to an estimated 2019-2030 cumulative forecast of USD 284 million. With forecasted market growth, multiple opportunities exist to localize the wind turbine bearings production value chain. The main focus of this opportunity is on manufacturing and assembly of wind turbine bearings
- Manufacturing: cutting, heat treatment, grinding, honing
- Assembly: The inner and outer rings, balls and cage assembly, lubrication, final assembly with shields
- Testing: Test bench to simulate the static and dynamic loads and torque that are experienced in multi-MW
- 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