VISION to Build a 130 kW Solar Power Plant in Bahra with SolFocus
Create alert for Vision Electro Mechanical Co.Vision Electro Mechanical Co.,
Create alert for Products Holding CompanyProducts Holding Company,
Create alert for Hassan ChahineHassan Chahine,
Create alert for Steve HornSteve Horn,
Create alert for Tarek KhateebTarek Khateeb,
Create alert for King Abdullah University of Science and TechnologyKing Abdullah University of Science and Technology
The partners have agreed to also build at least 8 other solar power stations for various other projects in Saudi Arabia
Vision’s move to introduce concentrator photovoltaic (CPV) technology from SolFocus, a finalist in the category of “Sustainable Technology Innovation of the Year” Award for the 2010 Global Energy Awards, is a breakthrough in Saudi Arabia’s thrust for energy diversification.
“We accomplished this partnership in line with Saudi Arabia’s efforts to promote investment in renewable energy projects and serve power projects in the Arabian Gulf and the wider Arabian region," said Dr. Faysal Alaquil, CPC spokesman and the Director of Business Development.
Vision Electro Mechanical Co. (VISION) was formed last August with a capital of SR563 million to develop, manufacture and operate solar power plants in Saudi Arabia.
Its Memorandum of Understanding signed with SolFocus is for marketing and installing solar power systems to generate electricity, starting with the solar power plant in CPC’s Bahra industrial complex, which will be the Arab regions largest using CPV technology.
Eng. Hassan Chahine, VISION’s CEO, signed the agreement with Mr. Steve Horn, SolFocus Chief Technical Officer, in the presence of Eng. Tarek Khateeb, VISION solar power plants Manager, said other similar projects will follow.
“VISION and SolFocus will install 8 solar power stations in various projects in Saudi Arabia, as well as in the research centers of King Abdullah University of Science and Technology (KAUST), and in the new technology cities,” he said.
SolFocus, a leader in CPV technology, has a double-mirror device that is more efficient than conventional solar panels, as it requires but a fraction of the land area, for installation compared to competitors. Its technology is widely rated as the world's most efficient solar power generating system for feasible energy diversification.
“The Bahra plant will serve as a model for further research and study to develop peak efficiency under the weather conditions of Saudi Arabia and the Arab region," Chahine said, “So as to exploit it in further projects, especially in Industrial Parks.”
Dr. Alaquil added: “VISION aims to be a leading national company exploiting solar power in Saudi Arabia where there is sun exposure for most part of the year, and will efficiently provide an alternative source of clean power to build up sustainable water and power capacity and preserve oil for future generations.”
- Saudi Oil Chief spills! Shoots down conspiracy theories on oil prices
- Oil prices: the honeymoon is over
- Betting on the counterintuitive? Understanding Saudi Arabia's logic, or lack thereof, behind not cutting oil output
- Oil markets downward spiral 'unbriddled'
- Structural weakness or bad luck? Oman, Bahrain will be pinched the hardest by lower oil prices