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PVH agrees with China’s CEEC to form the largest solar project in the Middle East

Date: May 22, 2024 Time: 16:45:04

Solar energy projects are gaining momentum among companies and in Spain large companies have launched to carry out projects of this type. This is the case of PV Hardware (PVH), from the Spanish group GranSolar, which has signed a contract with the company China Energy Engineering Group Co., better known as CEEC, with the aim of creating the largest solar project in the Middle East and supplying 1.7 gigawatts (GW).

Specifically, the project is located in the city of Jeddah, near Mecca, in Saudi Arabia, and joins the strategic initiative of the Saudi kingdom to achieve its ‘Vision 2030’ to reduce the use of fossil fuels and lead the transition towards a clean and green energy system. The ‘Al Shuaibah’ project represents a total investment of about 2,200 million dollars (about 2,022 million euros) in its two phases, with a two GW photovoltaic solar plant that is expected to begin commercial operation in the fourth quarter of 202 5 .

The CEO of PVH Middle East, Youssef El Sayed, highlighted that ‘Al Shuaibah’ is a project in which PVH “will deposit its experience in product engineering and resistant design, adapting to an expected useful life of 35 years”. “This project is a landmark to commemorate PVH’s strength in delivering large-scale projects,” he said.

More than 10 GW in the Middle East

PVH has already supplied more than 10 GW in the Middle East and continues to grow in the region. By signing this project, the company further strengthens its ties with ACWA Power and CEEC. The Jeddah plant is the second manufacturing center of the firm, which opened its first factory in Cheste (Valencia) more than ten years ago, where it maintains its headquarters. These two factories are joined this year by a third production center, which the company has already inaugurated in Houston (United States). Among the three, PVH expects to reach an annual production of close to 20 GW.

Saudi Arabia has designed a strategy to generate 50% of its energy from renewable sources before the end of this decade. To this end, the government is actively accelerating the regional energy transition, with a total of 27.3 GW of renewable energy in the pipeline.

The Saudi Fund for Public Investment (FPI) aims to develop 70% of the Kingdom’s renewable energy capacity by 2030 and has invested around 400,000 million dollars (about 367,682 million euros) since 2016 in alternative energies.

With this new agreement, PVH continues to reinforce its commitment to the international market, as it has already successfully deployed more than 28 GW on the five continents, gathering a global market share of more than 10%. The company remains the leading tracker manufacturer in Europe, the Middle East and Australia.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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