facebook
twitter
search
search

Saudi Arabia eyes major solar power advancement

Feb. 6, 2014 at 9:01 AM

BELMONT, Calif., Feb. 6 (UPI) -- SunEdison Inc. of California said it signed an agreement to help establish a solar power facility complex in Saudi Arabia.

SunEdison's deal with the Saudi government and the Saudi Arabian Investment Co. calls for the drafting of a feasibility study for a solar photovoltaic, or PV, manufacturing complex in the country.

The California company said the project is worth an estimated $6.4 billion and production of solar power components should begin in 2017.

The Saudi Arabia Solar Industry Association said in a January statement the country is working to develop a "large-scale" solar power program to cope with increasing energy demands.

Ahmad Chatila, chief executive officer at SunEdison, said in a statement the country was on the way to becoming a world-class leader in solar energy technology.

"We anticipate substantial growth of solar PV within the kingdom and the region," he said in a statement Tuesday. "We will bring our downstream solar PV development expertise to the region, and will partner with the kingdom to build a large and dynamic solar energy industry."

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Thales, IAI demo new NATO STANAG 7085 data link on UAV
MBDA France orders MMP missile warheads
Go Pro's Hero 4 Session is the smallest camera in the company