AustrianSolar has established presence in the Kingdom of Saudi Arabia since 2013, as part of its strategy of geographical expansion and diversification of its business worldwide.
The corporate focus is on the most promising and significant yet emerging solar PV market in the Middle East, the Kingdom of Saudi Arabia. Royal Order A/35 of H.M. King Abdullah bin Abdulaziz Al Saud enabled the launch of King Abdullah City for Atomic and Renewable Energy (K.A. CARE) Program. Its purposed is to have a 54 GW generating capacity by 2032, with the target for solar PV to have sufficient installed capacity to generate 16 GW of power. The compelling business case for the Kingdom to introduce renewables in its energy matrix (currently over-depending on oil) is mainly driven by increased domestic electricity demand, high opportunity cost and abundant solar resources. Introduction of solar PV will have extremely positive economic and social impact as it provides a sustainable source for electricity generation with competitive levelized cost of electricity (LCOE), preservation of the country’s non-renewable hydrocarbon reserves, as well as boosting the local economy through the establishment of a whole new vertically-integrated sector, based on job creation and human capital development.
Locally, AustrianSolar established collaboration with leading entities in each sector across the PV value chain and offers complete scope of services in lieu with the Competitive Procurement Process (CPP) of the King Abdullah City for Atomic and Renewable Energy (K.A. CARE) Programme, full cycle solar PV project development and implementation, as well as Operation & Maintenance (O&M) services.
AustrianSolar is a member of the Middle East Solar Industry Association (MESIA)