Indian PV manufacturer Goldi Solar and Saudi Arabia’s Desert Technologies have signed a Memorandum of Understanding (MOU) on a strategic partnership with the aim to localize a significant part of the renewable energy value chain in the Kingdom of Saudi Arabia including research, development and manufacturing. The two companies will cooperate in evaluating and developing original equipment for PV module manufacturing, PV cell production, EVA encapsulants and backsheets production, and TOPCon/HJT technologies.
The MoU was signed between Desert Technologies and Goldi Solar during the Saudi Indian Investment Forum held from September 10 to 11 on the sidelines of the Saudi Crown Prince and Prime Minister Prince Mohammed bin Salman’s visit to New Delhi, to participate in the G20 summit.
Khaled Sharbatly, CEO of Desert Technologies Investments, said, “The MoU comes within the framework of Desert Technologies’ commitment to increase and develop its production capabilities, enhance its global position and develop its products as the first Saudi company to manufacture and export solar panels to global markets. Moreover, the MoU reflects the commitment of the two parties to strengthen cooperation and joint work in order to develop the company’s products to meet the growing local and global demands.”
Desert Technologies currently produces 935,000 solar panels annually with a production capacity of 300 MW per year, and aims to raise the production capacity to 1 GW annually, and open new markets for the Saudi product to keep pace with the goals of the Kingdom’s Vision 2030 and the “Made in Saudi Arabia” program.
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