Spanish PV developer Solaria Energia y Medio Ambiente has inked a collaboration agreement with Saudi Arabian business conglomerate AB Group in order to establish a joint venture in Saudi Arabia.
Under the terms of the agreement, each company will hold an equal 50% share in the joint venture which will be involved in investing and developing 16GW of PV capacity under a programme launched by the Saudi Arabian government body King Abdullah City for Atomic and Renewable Energy.
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The joint venture will also be involved in providing EPC services for turnkey PV plants as well as the manufacturing of modules.
The agreement is in line with Solaria’s strategy to tap new markets which hold significant potential growth rates for its PV business.
