The photovoltaic market in Saudi Arabia has been shifting towards a more consistent model with the business density managed there. This speed reduction hasn’t changed the course, but dosed it, reducing the installed power target to 40 GW, instead of the 200 GW originally set for 2030. One of the decisions taken by the Saudi Office for the Development of Renewable Energy Projects (REPDO) to improve project efficiency and market growth is to require foreign companies to have a minimum local content of 30%, which will be progressively expanded over the years. In this line of action and preaching by example, PVH will sign a collaboration agreement with Al Yamamah Solar Systems Factory, one of the strongest manufacturers of solar systems mounting structures and support in the Kingdom of Arabia Saudi.
With a capacity to process 150.000 tons of steel per year, Al Yamamah Solar Systems Factory has placed itself in a privileged position in one of the most competitive photovoltaic markets. That is why this alliance will allow us to provide all the projects in the region at very competitive prices, amply complying with the country’s demand. The spanish company has always adapted to changes with diligence, reinforcing its position to lead any type of market, in any type of condition, which is proving once again in the Middle East’s region that more and better is taking advantage of its high levels of solar irradiation.
As the agreement states, Al Yamamah Solar Systems Factory will commit as the local manufacture and supply of PVH products in the MENA region, which will allow the Spanish company to align itself with the new Saudi regulations to reinforce its international expansion strategy and local job creation. The target currently set by REPDO for 2023 has gone from 5.9GW to 20GW, doubling that amount in the next seven years. The time has come to go one step further and PVH is laying the foundations to be the benchmark not only in the Middle East, but also in the rest of the world.