SolarEdge Technologies, a global leader in smart energy technology, has announced plans to set up a joint venture with Ajlan & Bros Holding, a leading private sector conglomerate in the Middle East and North Africa region, that will focus on deployment of smart renewable energy solutions in the kingdom.
To be headquartered in the Saudi capital Riyadh, the new JV entity will be jointly managed by a talented team of experienced professionals from both companies, with Ajlan & Bros Holding as the majority shareholder.
The move comes in line with the Saudi Vision 2030 initiative that aims to reduce the country’s dependence on oil by the end of this decade.
Leveraging the established position of Ajlan & Bros Holding in Saudi Arabia and the vast experience accumulated by SolarEdge in smart energy technology, the JV will offer enterprises in the country solutions from SolarEdge’s portfolio of systems for energy generation, storage, and management as well as site modeling and energy transition consultancy.
SolarEdge CEO Zvi Lando 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," he added.-TradeArabia News Service
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