The partnership between SolarEdge Technologies and Ajlan & Bros Holding, a prominent private sector conglomerate in the Middle East and North Africa region, will see the creation of a new entity based in Riyadh, Kingdom of Saudi Arabia, aimed at supporting the deployment of smart renewable energy solutions in the country.
With its extensive experience in smart energy technology, SolarEdge is renowned as a global leader in the industry. Their expertise spans energy generation, storage, and management systems, offering cutting-edge solutions for enterprises looking to transition to cleaner energy sources. The JV represents a crucial step towards advancing the Saudi Vision 2030 initiative, which seeks to reduce the nation’s reliance on oil and promote sustainable energy alternatives.
By establishing this joint venture in Riyadh, SolarEdge and ABH are poised to play a pivotal role in reshaping Saudi Arabia’s energy landscape. As the energy sector evolves, this partnership will likely set a benchmark for future collaborations in the region, bringing together expertise and resources to address one of the most pressing challenges of transitioning towards a greener and more sustainable future.
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.”
The JV will be jointly managed by a talented team of experienced professionals from both companies, with ABH as the majority shareholder.