Riyadh – Mubasher: The Saudi Basic Industries Corporation (SABIC) on Wednesday signed an agreement to make its polycarbonate facility in Spain’s Cartagena the world’s first large-scale chemical site that is completely run by renewable power.
Leading electricity utility company Iberdrola will invest around EUR 70 million to build a 100 megawatt (MW) solar photovoltaic (PV) facility that comprises 263,000 solar panels on land owned by SABIC, making it the biggest industrial renewable power plant in Europe, Saudi Press Agency (SPA) reported.
The plant is likely to be fully operational by 2024.
The agreement marks another milestone in SABIC’s journey to transform all of its global operations into cleaner energy.
The company eyes to install 4 gigawatts (GW) wind or solar energy facilities for its sites around the globe by 2025 and then raise the capacity to 12 GW by 2030.
In 2019, SABIC completed the installation of solar panels in its sites in India and Thailand, which helped cut greenhouse emissions by 200 tonnes. SABIC’s Home of Innovation facility in Riyadh became entirely solar-powered in 2015.