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FINANCIAL NEWS
Saudi Aramco, Japan’s Showa Shell to produce solar cells
05 Oct 2011
(MENAFN) Saudi Aramco’s chief executive, Khalid Al-Falih, said that in 2-3 years, the company would start producing solar cells in the Kingdom in a joint venture with Showa Shell Sekiyu KK, a Japanese thin-film solar cell maker, reported Reuters.
Al-Falih added that the two companies inked a deal two years ago to establish small-scale pilot solar-power facilities in Saudi, moreover, in 2011; Saudi Electricity Co. (SEC) and the Japanese company inaugurated a 500-kilowatt (kW) solar power plant in the Kingdom.
He also said that Saudi Aramco owned 15 percent of Showa Shell, whereas Royal Dutch Shell owned one-third of the company, furthermore, Showa Shell considered constructing a fourth solar cell plant in Saudi.
It is worth noting that Saudi plans to build nuclear and renewable power plants in order to cut its use of fossil fuels.
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