Chinese Solar Firm Eyes Saudi Arabia for First Foreign Plant
- Middle East offers an entry point to global market: joint CEO
- Declining solar prices delivering opportunities for expansion
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China-based solar sector supplier GCL Technology Holdings Ltd. is in advanced talks with Saudi Arabia about opening its first overseas factory as the nations aim to extend their energy ties beyond oil.
The world’s second-largest manufacturer of polysilicon, a key ingredient in solar panels, is looking to build a plant in the Middle Eastern nation which would produce 120,000 tons a year, Joint Chief Executive Officer Lan Tianshi said in an interview. GCL Tech could start operations as early as 2025, he said.