SunEdison, the PIF of the Government of Saudi Arabia and Sanabil Investments have signed an agreement to study the feasibility of a PV manufacturing complex

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SunEdison Inc., a leading solar technology manufacturer and provider of solar energy services, the Public Investment Fund (PIF) of the Government of Saudi Arabia and the Saudi Arabian Investment Company (Sanabil Investments), signed an agreement to jointly fund a feasibility study for the establishment of a vertically integrated solar PV (photovoltaic) manufacturing complex at Wa’ad Al Shammal in Saudi Arabia. This follows a successful preliminary study between the National Industrial Clusters Development Program (NICDP) and SunEdison in 2013.
The proposed project, entailing the production of polysilicon through modules, would support the growth of the solar energy industry in the Kingdom, and is consistent with SunEdison’s long term strategy.
The complex would utilize both SunEdison’s proprietary high pressure silane fluidized bed reactor (HP-FBR) polysilicon, and continuous Czochralski (CCz) crystal ingot technology and equipment, as well as include solar wafer, cell and module manufacturing, employ attractive debt financing for the approximately $6.4B project, and would begin production in 2017, ramping to 3 GW (gigawatts) annually. A significant percentage of polysilicon and ingot production would support the 3 GW planned module output, with the remaining crystal production addressing the market with a substantial cost advantage. Demonstrating strong support, the Ministry of Petroleum and Minerals pointed out it will provide the required quantities of natural gas, and the Saudi Electrical Company (SEC) will provide the needed power requirements for the project.
“We anticipate substantial growth of solar PV within the Kingdom and the region. This project will support that growth, and the growth aspirations of SunEdison and our Saudi partners,” said Ahmad Chatila, CEO of SunEdison. ”
Eng. Azzam Shalabi, President of NICDP said, “This project will be capable of building a complete industrial eco-system that is sustainable and able to compete on a global level by utilizing pioneering technology developed by SunEdison to produce high purity polysilicon, and high-efficiency, low-cost mono-crystalline ingots, in addition to benefiting from economies of scale given the size and vertically integrated nature of the complex.”