JEDDAH, Saudi Arabia, April 11, 2023 /PRNewswire/ -- Arctech, the world's leading solar tracking, racking, and BIPV provider has announced it is poised to provide 1.5GW SkyLine II solar tracking solution for ASB project in Saudi Arabia, marking the company's first solar tracking and racking project in the country and a milestone of its increasing presence in Middle East.

Arctech SkyLine II

Located in the Al Shubakh district, Jeddah City, Mecca, Saudi Arabia, the ASB project is the biggest solar plant in construction in the Middle East region serving the purpose of expediting regional energy transition to spell out the "Vision 2030".

The KSA government is actively expediting the regional energy transition, as Saudi Arabia is aiming for 50% of its energy to be generated from renewable sources by 2030, which means 27.3GW of renewable energy installation, the Saudi Public Investment Fund has invested around SR1.5 trillion (US$400 billion) since 2016 in alternative energy. Saudi Arabia aims to employ clean technologies and renewable energy to reduce its projected 2030 emissions by more than 130 million tonnes and lessen Saudi Arabia's contribution to global emissions, which currently account for more than 4% of all planet-wide emissions.  

.Arctech has a series of trackable project portfolios in the region following the "One Belt One Road" initiative including the IBRI II 607MW project in Oman and the 2.1GW Al Dhafra PV2 project in Abu Dhabi among others, the company has established branches in Saudi Arabia and The United Arab Emirates to deepen localization and offer white-glove services to regional clients.  

2.1GW Al Dhafra PV2 Project in Abu Dhabi

Arctech has a long-term good rapport with ASB project owner ACWA Power and EPC China Energy Engineering Group Co., Ltd. (hereafter "CEEC"). In February, the company welcomed the senior management from ACWA Power and China Energy Engineering Group Co., Ltd. (hereafter "CEEC") at a business meeting in Arctech's headquarters, Kunshan, China, during the visit, Mohammad A. Abunayyan, Chairman of ACWA Power remarked: "Arctech and ACWA Power have carried out fruitful cooperation on previous projects, we expect to strengthen cooperation and innovate the cooperation mode with ACWA Power under the Road and Belt Initiative and Saudi Arabia's Vision 2030, becoming a pair of role models for Belt and Road cooperation."

Source: Arctech Related Stocks: Shanghai:688408