Solterra Renewable Technologies Inc., a wholly owned subsidiary of Hague Corp., says that the company has made ‘significant progress’ in the selection process by an agency of the government of Saudi Arabia to establish a thin-film quantum dot solar cell manufacturing and distribution facility in the country.
If selected, the Solterra solar cell facility would be part of an initiative to build a transmission super grid of power plants and power lines to supply energy to Europe and to seawater desalination plants in the Middle East and North Africa. The initiative has been spearheaded by the Trans-Mediterranean Renewable Energy Cooperation, a consortium led by the renowned Club of Rome, which includes the German Aerospace Bureau and several universities in Europe and the Middle East.
‘We have been engaged in preliminary discussions for more than six months and are now in advanced discussions with the Saudi government agency responsible for these decisions,’ states CEO Stephen Squires. ‘We have undergone an incredibly in-depth due diligence review of our science and our business plan. The due diligence process was conducted on-site by a European consulting and analysis firm. Early discussions have led us to believe that we are a front-runner in the selection process.’
SOURCE: Solterra Renewable Technologies Inc.