SABIC unveils plans to build chemical facility in Cartagena, Spain

SABIC, a Riyadh-based chemical manufacturing company, has reportedly unveiled plans to build its own chemical facility powered by clean energy in Cartagena, Spain. The polycarbonate plant powered by a 100-MW photovoltaic solar plant is expected to be operational by 2024.

For the advancement of the project, a large electric utility company, Iberdrola, will invest nearly â‚¬70 million for the installation of 263,000 panels, which will make it the biggest industrial renewable power facility in Europe. The 25-year agreement highlights the target of SABIC to reach 4-GW of either solar or wind energy installed capacity for the company’s sites across the globe by 2025, as well as accelerate the capacity to 12-GW by 2030.

In 2019, SABIC completed the installation of solar panels at its sites in Thailand and India, which significantly helped reduce GHG (greenhouse gas) emissions by 200 tons.

According to SABIC’s EVP of Sustainability, Technology, and Innovation, Bob Maughon, the latest partnership will significantly enable the company to drive business growth. In the recent past, several technological breakthroughs in renewable energy have made deployment at the current possible scale.

As per the statement made by SABIC, its customers from automotive, construction, and other sectors will gain access to the polycarbonate solutions delivered with a 100% renewable power, as soon as its solar-powered Cartagena facility comes online.

Additionally, the company is planning to install photovoltaic technology at Riyadh, its global headquarters. A final feasibility study is also in progress with RCJY (Royal Commission for Jubail & Yanbu) and Marafiq to explore a $300 million and 300-MW solar array project on the western coast of the Kingdom of Saudi Arabia.

SABIC, with the employee base of over 33,000, develops agri-nutrients, plastics, and chemicals across the globe. Upon the completion of the recent project, the company will consume the power generated by this plant as well as supply it to local chemical manufacturing facilities.

Source credit:

https://www.arabnews.com/node/1711971/business-economy

Akshay Kedari:

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on cmferesearch.com and a few other portals. Also endorsed with a short-term experience in web development, Akshay lends expertise procured from his core domain in the articles he pens down.