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Samsung C&T Corp. will be building a solar power plant in Qatar under a $595.2 million or about KRW800 billion deal. The South Korean construction and engineering company is expected to complete the construction by November 2024.
According to The Korea Economic Daily, once the solar power facility is finished, it is will have a total capacity of 875 megawatts. The project will help the country diversify its energy resources, and Samsung C&T will also be able to expand its future environmentally-friendly businesses.
It was on Wednesday this week when the construction arm of the Samsung Group revealed it had signed a deal for engineering, procurement and construction (EPC) works with Qatar Energy, a state-run company that was formerly called Qatar Petroleum. They will be working for the country’s industrial cities’ solar power project (IC Solar).
The project also includes the launch of two photovoltaic solar power plants that will offer a total capacity of 875 MW. Samsung C&T is set to construct one facility that will be capable of generating 417 megawatts of power in Mesaieed Industrial City which is located around 40 kilometers in the southern part of Doha. The other plant will have a capacity of 458 megawatts, and this will rise in Ras Laffan Industrial City which is located 80 kilometers north of the capital.
“This IC Solar project is a major step in the implementation of our strategy to diversify Qatar’s energy resources and to increase the reliance on high-efficiency renewable energy, which is a cornerstone for a sustainable future,” Qatar Energy president and chief executive officer, Saad Sherida Al-Kaabi, said in a statement. The company chief is also the country’s Minister of State for Energy.
In any case, an official of Samsung C&T also commented about the solar power project saying, “We are strengthening portfolios in the eco-friendly future businesses including renewable energy generation, green hydrogen and ammonia, as well as small module reactors (SMRs). He added that starting with its solar power deal in Qatar, the company will apply the results to its new businesses.
