Hanergy is launching the first $1bn solar industrial park in the Middle East
Hanergy Thin Film Power Group has signed an Memorandum of Understanding with Ajlan & Bros to launch the first solar thin-film industrial park in the Middle East in a $1bn investment.
The agreement was signed at the launch event of Saudi Arabia National Industrial Development and Logistics Programme (NIDLP), one of 12 programmes aligned with Saudi Vision 2030. The investment will work to transform the region into an industrial powerhouse and a global leader in logistical services, fuelling growth in four key sectors: Industry, Mining, Energy and Logistics.
Under the agreement, the two companies will collaborate to develop renewable energy manufacturing facilities in Saudi Arabia and conjointly seek relevant investment opportunities.
"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," said Mr. Mohamed Al Ajlan, Deputy board chairman, Ajlan & Bros. Hanergy has anchored its roots in the Saudi market with its cutting-edge technologies and innovative products, while Ajlan & Bros Holding Group Company is one of the leading international companies in the country and Arabian Gulf.
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"At Hanergy we've accorded priority to Saudi Arabia as one of the key strategic markets for our business globally. We realise the potential of renewable energy in Saudi Arabia and have set out an organised 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," added Mr. Wei Qiang, President of Hanergy Saudi Arabia Country Company.
"The collaboration with Ajlan & Bros could be a turning point for both Hanergy and solar industry of Saudi Arabia.”
With the great market potential to be explored in Saudi Arabia and Hanergy's accumulated technological advantages, as well as the right partner with mutual interest and rich resources, the collaboration seems well in place to firm Hanergy's foothold in the Middle East Market and transform the landscape of solar industry of Saudi Arabia.
The Kingdom of Saudi Arabia has been endeavouring to reduce its dependence on oil and going through a major transition towards more diversified and sustainable energy resources. In 2011, oil was the source of over 50% electricity in the country and there was only 0.003 gigawatts of solar power capacity installed nationwide. The government has since announced that Saudi Arabia would develop 41 gigawatts of solar capacity by 2032. The launch of National Industrial Development and Logistics Programme will work to help achieve this goal.
Major move forward for UK’s nascent marine energy sector
Although the industry is small and the technologies are limited, marine-based energy systems look to be taking off as “the world’s most powerful tidal turbine” begins grid-connected power generation at the European Marine Energy Centre.
At around 74 metres long, the turbine single-handedly holds the potential to supply the annual electricity demand to approximately 2,000 homes within the UK and offset 2,200 tonnes of CO2 per year.
Orbital Marine Power, a privately held Scottish-based company, announced the turbine is set to operate for around 15 years in the waters surrounding Orkney, Scotland, where the 2-megawatt O2 turbine weighing around 680 metric tons will be linked to a local on-land electricity network via a subsea cable.
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Described as a “major milestone for O2” by CEO of Orbital Marine Power Andrew Scott, the turbine will also supply additional power to generate ‘green hydrogen’ through the use of a land-based electrolyser in the hopes it will demonstrate the “decarbonisation of wider energy requirements.”
“Our vision is that this project is the trigger to the harnessing of tidal stream resources around the world to play a role in tackling climate change whilst creating a new, low-carbon industrial sector,” says Scott in a statement.
The Scottish Government has awarded £3.4 million through the Saltire Tidal Energy Challenge Fund to support the project’s construction, while public lenders also contributed to the financial requirements of the tidal turbine through the ethical investment platform Abundance Investment.
“The deployment of Orbital Marine Power’s O2, the world’s most powerful tidal turbine, is a proud moment for Scotland and a significant milestone in our journey to net zero,” says Michael Matheson, the Cabinet Secretary for Net-Zero, Energy and Transport for the Scottish Government.
“With our abundant natural resources, expertise and ambition, Scotland is ideally placed to harness the enormous global market for marine energy whilst helping deliver a net-zero economy.
“That’s why the Scottish Government has consistently supported the marine energy sector for over 10 years.”
However, Orbital Marine CEO Scott believes there’s potential to commercialise the technology being used in the project with the prospect of working towards more efficient and advanced marine energy projects in the future.
“We believe pioneering our vision in the UK can deliver on a broad spectrum of political initiatives across net-zero, levelling up and building back better at the same time as demonstrating global leadership in the area of low carbon innovation that is essential to creating a more sustainable future for the generations to come.”
The UK’s growing marine energy endeavours
This latest tidal turbine project isn’t a first for marine energy in the UK. The Port of London Authority permitted the River Thames to become a temporary home for trials into tidal energy technology and, more recently, a research project spanning the course of a year is set to focus on the potential tidal, wave, and floating wind technology holds for the future efficiency of renewable energy. The research is due to take place off of the Southwest coast of England on the Isles of Scilly