German-Saudi partnership to build solar facility

Germany’s Centrotherm Photovoltaics, the world’s second-largest manufacturer of solar photovoltaic (PV) equipment, has signed an agreement with IDEA Polysilicon to construct a polysilicon solar PV manufacturing facility in the Saudi Arabian Red Coast city of Yanbu.

The agreement aims to provide IDEA the technology and know-how it needs to become a market force in the Middle East-North Africa (MENA) region, a market that’s attracting more and more interest from industry players globally.

The value of the contract wasn’t disclosed, though the project’s anticipated cost is more than $1.1bn.

Created by a group of Arabian Gulf investors, IDEA Polysilicon’s polysilicon plant will be the first in the Middle East.

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