Israel’s SolarEdge Technologies has tied up with the Saudi firm, Ajlan & Bros (ABH) Holding in Riyadh.
Established in 2006, SolarEdge Technologies Inc., will jointly work with the Saudi firm towards deploying renewable energy in the kingdom. According to a press statement by SolarEdge, their new company will be involved in energy generation, storage, and management for Saudi businesses.
SolarEdge is a smart energy technology provider, and ABH is one of the largest private sector firms in the Middle East and North Africa region. The statement further informed that the JV firm will be established in Riyadh, Saudi Arabia.
It further noted that the JV will focus on supporting the deployment of smart renewable energy solutions in Saudi Arabia, which is in line with the Saudi Vision 2030 initiative, which aims to reduce the country’s dependence on fossil fuel by the end of this decade. The JV is expected to provide solutions for energy generation, storage, and management, as well as site modeling and energy transition consultancy.
Zvi Lando, SolarEdge Chief Executive Officer, said, “We are honoured to partner with Ajlan & Bros Holding and to support Saudi Arabia’s journey towards’ Vision 2030.’ SolarEdge is committed to driving the clean energy transition on a global scale, exemplified by this JV, which will provide local enterprises in Saudi Arabia with the support they need to rapidly transition away from fossil fuels to clean solar energy and meet their aggressive renewable energy goals.”