GlassPoint, a pioneer in decarbonizing industrial process heat, has announced plans to build the major industrial solar thermal project – Maaden I – in the kingdom in partnership with Saudi mining giant Maaden and Spanish utility major Cox.
The GlassPoint Ma’aden Technology Showcase (GMTS) is the first stage in building the mega solar thermal project, Ma’aden I, being set up as part of USD 1.5bn project which will combine direct solar to heat technology with advanced thermal storage to accelerate the decarbonising of Ma’aden’s aluminium supply chain.
Unveiling the next phase of development for the GMTS in partnership with the Ministry of Investment of Saudi Arabia (MISA), it will feature several advanced technology developments from GlassPoint that enable industrial facilities to decarbonize heat by up to 70% while delivering cost parity with legacy gas-powered steam systems.
The project supports MISA’s Global Supply Chain Resilience Initiative to diversify supply chains, as well as the Kingdom’s Saudi Vision 2030 plan to strengthen the economy and the Saudi Green Initiative to accelerate the Kingdom’s environmental leadership.