Saudi Arabia based Desert Technologies (DT), a solar PV and smart infrastructure holding company has signed a long term partnership with the multinational giant Essar Group.
Both the parties signed a Memorandum of Understanding (MOU) during G20 summit at Delhi, recently, to develop renewable energy solutions for Essar Group’s Green Steel Arabia (GSA) project in the Kingdom of Saudi Arabia (KSA). Also, there are plans for potential future projects which will put Saudi Arabia on the map, as a pioneering country in Green Steel production and green energy generation.
Through this partnership, DT and Essar will develop solutions for renewable energy generation and storage for Essar’s Flat Steel Complex in the KSA which will be the first green steel project in the GCC region and will also explore opportunities for other potential projects.
Commenting on the deal, Chief Executive Officer of DT Investments, Khaled Sharbatly said, “Desert Technologies’s MOU with Essar signifies our long-term commitment to meet the growing demand for renewable energy solutions, especially in the KSA. Its solutions in the renewable energy sector, price competitivity and low Carbon footprint solutions will further boost the growing low CO2 emission steel industry. We are proud to collaborate with Essar Group to support their pioneering project for setting up the first green steel project in Saudi Arabia.”
Naushad Ansari, Country Head for Essar Group in KSA, commented, “Essar is currently looking at investing about USD 4.5 billion in setting up an integrated steel plant in Ras Al Khair, Saudi Arabia. This partnership with Desert Technologies will help us to access green energy and carbon.”
