Israeli company signs solar deal with Saudi Arabia
Saudi Arabia will hit 1.5 gigawatts of renewable energy capacity this year, of which 1GW will be solar, an increase from 22.5 megawatts in 2013.
Israeli company signs solar deal with Saudi Arabia
New Sustainable Economics

Israeli company signs solar deal with Saudi Arabia

Photo: iStock
Eurasia 09/08/2023 20:10

Israel's largest solar energy company, SolarEdge, has signed a joint venture with Ajlan & Bros Holding (AHB) to adopt solar energy in Riyadh, according to The Jerusalem Post.

The joint venture will support the deployment of smart renewable energy solutions in Saudi Arabia and aligns with the Saudi Vision 2030 initiative, aiming to reduce the country's dependence on oil by the end of the decade. The venture will offer organizations in the country a portfolio of SolarEdge products in areas such as production, storage, and energy management, as well as site modeling and consultancy for the transition to renewable energy, The Jerusalem Post reported.

Ajlan & Bros is a major conglomerate in the Middle East and North Africa's private sector. The venture will serve leading facilities in Saudi Arabia.

Last year, Globes reported that dozens of Israeli business and tech figures were visiting the kingdom for advanced talks on Saudi investments in Israeli companies and Israeli investment funds despite Israel and Saudi Arabia having no official diplomatic relations. Quietly, ties have strengthened in recent years, as the Saudi crown prince, Mohammad bin Salman, reportedly sees Israel as a strategic partner for helping achieve his Vision 2030 goals.

The plan aims to ensure environmental sustainability through three verticals: reducing all types of pollution, safeguarding the environment from natural threats, and protecting and rehabilitating natural landscapes. 

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