First regional polysilicon plant in the pipeline
Bahraini outfit invests in US$bn factory to aid solar generation
Bahrain’s First Energy Bank (FEB) has outlined plans to build a US$1 billion polysilicon plant in Jubail Industrial City. As polysilicon is used in the production of solar panels, the move underlines the growing importance of renewable energy to the GCC’s power feedstock mix.
FEB is working with Saudi developer Project Management and Development Company (PMD).
The plant, which will cover around 375,000 square metres, is projected to have an output of 7,500 tonnes per annum and will be operational in 2013.
Renewable sources of energy will remain a priority globally, and solar energy in particular is a logical industry to take off and flourish in the Middle East and North Africa region,” said Vahan Zanoyan, CEO of FEB.
“We are therefore bullish on the polysilicon industry, and we are particularly happy to launch such a significant plant in one of the most important industrial hubs in the Gulf region, namely, in Al-Jubail in Saudi Arabia. "