JEDDAH, Saudi Arabia and BERNIN, France, June 12, 2013 /PRNewswire/ —
Partners Khaled Juffali Company (KJC), a Saudi Arabian investment company, and Soitec, a world leader in semiconductor materials for the electronics and energy industries, have announced that the Saudi Arabian Oil Company (Saudi Aramco), a global petroleum and chemicals company owned by the Kingdom of Saudi Arabia, has decided to use Soitec’s concentrating photovoltaic (CPV) technology for a 1-megawatt solar-energy pilot plant in Saudi Arabia’s northwestern Tabuk region. This project with the world’s largest oil producer is the first business win for KJC and Soitec since the two companies signed a joint agreement in April to cooperate in driving solar-industry growth in Saudi Arabia and the Middle East.
Following a competitive tender process and a rigorous evaluation of various equipment suppliers, the oil and chemical giant selected Soitec’s CPV technology based on its perfect fit with the region. Saudi Aramco’s two-fold objective for this project is to successfully complete the work on schedule while testing the performance of CPV technology to better assess its levelized cost of energy (LCOE) advantage for future utility-scale installations.