Compagnie de Saint-Gobain SA said Tuesday that has it signed an Memorandum of Umderstanding to set up a high-tech company in the solar energy sector in Saudi Arabia.
Saint-Gobain, which was represented by Jean-Pierre Floris, Senior Vice-President and President of the Innovative Materials Sector, signed the M.O.U. with HRH Prince Faisal Bin Salman Bin Abdulaziz Al Saud in Torgau, Germany, where Saint-Gobain's Avancis affiliate operates one of the world's most modern thin film Photovoltaic module plants.
Under the terms of the M.O.U., Saint-Gobain shall provide technical assistance and engineering expertise to build and operate a CIGS (Copper, Indium, Gallium, Selenide) thin film PV module manufacturing facility in the Kingdom of Saudi Arabia. The project is part of a larger program which includes the construction of solar power plants in the Kingdom.
The strategic alliance will lay the foundation for other businesses in the field of solar. Furthermore, it will accelerate the development of solar power plants equipped with modules manufactured in Saudi Arabia using Avancis CIGS technology.
Fully aligned with K.A.CARE's strategic priorities, the program will enable the development of a competitive manufacturing base in the Kingdom. K.A.CARE has been established in April 2010 by Royal Decree and is in charge of developing nuclear and renewable energy in the Kingdom. It has set itself the target to install 41 GWp of solar power by 2032 - of which 16 GWp should be contributed by PV power generation.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.