GlassPoint to build Saudi factory for solar steam projects

US solar steam projects developer GlassPoint announced today that it will build a manufacturing facility and technology showcase in the Eastern Province of Saudi Arabia under an agreement reached with the country’s Ministry of Investment.

The partnership will see the ministry provide support and advice, while the US firm will contribute technology and operational expertise, according to a statement.

The future factory will provide the technology needed to build solar thermal projects for the metals and mining, building materials and additional industrial sectors both in Saudi Arabia and across the world. At peak capacity, the facility will be able to produce enough equipment annually to generate 5,000 tonnes of solar steam per day.

In addition, the new plant will provide supply chain resilience for the world's largest solar thermal project to be built on the east coast of the Kingdom -- Ma'aden Solar 1. Last year, GlassPoint signed a memorandum of understanding (MoU) with the state-owned mining company Ma'aden to build the site.

The Saudi partnership announcement comes about three months after GlassPoint secured USD 8 million (EUR 7.52m) in a fundraising round aimed at expanding its operations.

(USD 1 = EUR 0.941)

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