Hanergy Thin Film Power Group to launch a $1 billion solar thin-film industrial park in Saudi Arabia

China-based Hanergy Thin Film Power Group has consented to a speculation participation arrangement with Ajlan & Bros to dispatch a $1 billion solar thin-film industrial park in Saudi Arabia, the first in the Middle East district.

The contract was marked at the launch occasion of Saudi Arabia National Industrial Development and Logistics Program (NIDLP), which is one of the 12 programs started as a major aspect of Saudi Vision 2030, concentrating on changing Saudi Arabia into a mechanical powerhouse.

Under the understanding, the two organizations will team up to create sustainable power source fabricating offices in Saudi Arabia and together look for relevant investment opportunities.

Deputy chairman of Ajlan & Bros, Mohamed Al Ajlan states, “We are excited to collaborate with Hanergy. Thin-film power is a promising market, especially in Saudi Arabia. The renewable energy facilities are bound to reform the landscape of the country’s energy industry and help us achieve our goals in the 2030 vision.”

President of Hanergy Saudi Arabia Country Company, Wei Qiang mentioned, “We realise the potential of renewable energy in Saudi Arabia and have set out an organized and specific road map to diversify our business in the country while supporting the advancement of renewable energy and fulfil the kingdom’s commitments to reducing carbon dioxide emissions.”

He even told, “The collaboration with Ajlan & Bros could be a turning point for both Hanergy and solar industry of Saudi Arabia.”

The assention comes as Saudi Arabia has been attempting to diminish its reliance on oil and experience a noteworthy progress towards increasingly differentiated and sustainable energy resources.

In 2011, oil was the wellspring of more than 50 percent power in the nation and there was just 0.003 gigawatts of sunlight based power limit introduced across the country. The administration at that point declared that Saudi Arabia would create 41 gigawatts of sun based limit by 2032.

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