Centrotherm surges after Saudi polysilicon plant contract

Shares in Germany’s Centrotherm roared ahead by more than 6.6% to €13.70 ($18.16) after the PV toolmaker revealed it has bagged a deal to help design and equip a large polysilicon foundry in Saudi Arabia.

Working alongside local partner IDEA Polysilicon, Centrotherm will provide “basic engineering and the technology concept” for the 10,000 tonne facility in the Red Sea port town of Yanbu’ al Bahr.

The deal follows Dubai’s recent announcement that it will build 2GW of solar capacity in the coming years, and further underscores the surge of interest in solar energy across the Middle East as manufacturers and developers pivot away from subsidy-weary Europe.

“There is tremendous potential for solar energy in Saudi Arabia and other states of the [Middle East and North Africa] region,” says Log in to read complete article.

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