Chinese solar energy giant "GCL Technology" announced on Monday that it is set to launch the first silicon pellet project in the UAE, amid a growing trend towards the Middle East as a new hotspot for Chinese photovoltaic companies. GCL stated that it is currently in discussions with "Mubadala Investment" to explore potential cooperation, including the establishment of an integrated silicon ecosystem in the region, which GCL said could host the world's largest base for research, development, and manufacturing of silicon pellets.
In May, its Suzhou branch signed a cooperation agreement with "MDC Power Holding," wholly owned by Mubadala Investment, to develop the first polysilicon production facility in the UAE. The UAE offers excellent solar conditions with an average of 3,000 to 4,000 hours of solar power generation annually, providing significant opportunities for large-scale photovoltaic power plants.
Zhu Kongshan, Chairman of GCL, noted that the UAE's rapid move towards developing new energy and establishing it as a cornerstone of sustainable development was also a compelling factor for their investment. In the updated UAE Energy Strategy 2050, the government announced plans to triple the share of renewable energy and invest up to 200 billion dirhams (54 billion USD) by 2030 to meet the country's growing energy demand.
These initiatives follow China's recent announcement to support Chinese energy companies and financial institutions in participating in renewable energy projects with a total installed capacity exceeding 3 million kilowatts in Arab countries.
