Chinese solar industry targets booming Middle East market
Chinese solar panel manufacturers are targeting the Middle East, North Africa, and South Asia markets, with large-scale investment in renewable energy expected to drive a rapid increase in demand for imported technology.
According to Analysis by Frost and Sullivan for the World Future Energy Summit (WFES) and Solar Expo, to be held in Abu Dhabi from 16 to 19 January, the Gulf Cooperation Council (GCC) countries will increase their installed solar capacity 50-fold between 2015 and 2025. Saudi Arabia alone has announced plans for an additional 9.5 GW of renewable energy by 2030. Outside the GCC, India is targeting 175 GW by 2022, including 100 GW of solar.
Planned projects exceed local manufacturing capacity, creating significant scope for partnerships with global suppliers.
“When solar energy was seen as experimental in the region, and oil revenues were high, many decision makers automatically looked for Western partners, particularly from Europe,” said Ms. Li Dan, Vice Executive Secretary-General, Chinese Renewable Energy Industries Association. “Looking ahead, decisions will be based on purely commercial factors. Chinese companies can provide the quality, the capacity, and the commercial viability to put renewables at the centre of the energy mix.”