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.