GlassPoint has announced plans to create the world’s largest solar thermal project, Maaden I, in collaboration with Saudi Arabia’s mining giant Maaden and Spanish utility Cox. This initiative aims to decarbonize the industrial process heat sector.
The project will feature the GlassPoint Ma’aden Technology Showcase (GMTS), marking the first phase in this $1.5 billion venture. It will merge solar heat technology with advanced thermal storage to decarbonize Ma’aden’s aluminum supply chain efficiently.
GlassPoint, in partnership with the Ministry of Investment of Saudi Arabia (MISA), will showcase advanced technologies capable of reducing industrial heat emissions by up to 70%, achieving cost parity with traditional gas-powered systems.
Innovations in anticlastic polymer membranes, high-performance Niobium mirrors, and ternary liquid salt have resulted in a 60% reduction in parts and 75% in weight, cutting solar field costs by 30% and thermal storage costs by 50%.
To support Ma’aden’s projects and export renewable energy components, GlassPoint will collaborate with MISA to establish a solar manufacturing facility in Saudi Arabia.
Saudi Minister of Investment, Khalid Al Falih, emphasized the project’s significance in enhancing the region’s solar power capabilities and strengthening the economy. Ma’aden CEO Bob Wilt highlighted the project’s role in supporting Saudi Arabia’s net-zero target by 2060.
GlassPoint CEO Rod MacGregor expressed pride in partnering with Saudi Arabia to not only develop this historic solar thermal project but also a pioneering technology showcase and manufacturing facility. He noted the importance of decarbonizing industrial heat to produce low-carbon materials and meet global net-zero commitments, a market valued at $444 billion.
