SM – Grundartangi Solar Silicon Metal Manufacturing Plant – Iceland - Project Profile
"SM – Grundartangi Solar Silicon Metal Manufacturing Plant – Iceland - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.
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Silicor Materials (SM) is undertaking the construction of a solar silicon metal manufacturing plant in Grundartangi, Iceland.
The project involves the construction of a manufacturing plant over an area of 121,000m2 with a nameplate capacity of 16,000 tonnes, with the ability to yield up to 19,000 tonnes of solar silicon each year.
The project includes the construction of a production unit, processing units, warehouses, an administrative space and related infrastructure facilities and the installation of equipment.
Environice has been appointed as the environmental consultant for the project.
In 2014, the Planning Agency concluded that the proposed solar silicon plant Silicor Materials at Grundartanga would not have to undergo environmental assessment.
On May 28, 2014, SM signed terms of a contract to build a solar silicon factory at Grundartangi with the respective authority.
On March 24, 2015, SM signed an equipment contract for the plant with Germany’s SMS Siemag. SMS Siemag will supply all equipment and factory design services for the plant.
Icelandic Arion Bank and German banks will provide funding the project.
In June 2015, MT Hojgaard was appointed as Design-build contractor.
On September 16, 2015, SM secured US$105 million in equity capital agreements to support the development. The capital raised includes support from Icelandic pension funds and Hudson Clean Energy (HCE) Partners. Centra Corporate Finance (CCF) served as the equity advisor.
On September 17, 2015, Krabbenhoft & Ingolfsson (Krabbenhøft ApS) has signed contract with MT Hojgaard to deliver the complete steel design.
In November 2015, SM pledged to plant 26,000 trees per year to help offset the carbon footprint of the development.
SM has entered into an agreement with the Kolvidur Fund, a fund set up by the Icelandic Forestry Association and the Icelandic Environment Association to reduce the concentration of carbon dioxide (CO2) in the atmosphere as a first step at making the plant’s operations carbon-neutral.
In August 2016, Silicor Materials signed a management contract agreement with AM Technical Solutions.
On June 17, 2017, Reykjavík District Court over ruled the decision taken by the Icelandic planning authority in 2014 which did not consider an environmental assessment to be necessary for the development of the project and asked SM to go through environmental assessment process.
Project is facing delay due to the environmental issues, funding and electricity purchase agreements.
The project involves the construction of a manufacturing plant over an area of 121,000m2 with a nameplate capacity of 16,000 tonnes, with the ability to yield up to 19,000 tonnes of solar silicon each year in Grundartangi, Iceland.
The US$226 million project includes the following:
1. Construction of a production unit
2. Construction of warehouses
3. Construction of an administrative space
4. Construction of workshops
5. Installation of machinery
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