China?s Hanergy Thin Film Power Group, world's largest thin-film solar power solution company, has signed an MoU investment cooperation agreement with Ajlan & Bros to launch the first solar thin-film industrial park in the Middle East at a total investment cost of more than US$1bn
The agreement was signed at the launch event of Saudi Arabia National Industrial Development and Logistics Program (NIDLP), which is one of the 12 programmes initiated as part of Saudi Vision 2030 focusing on transforming Saudi Arabia into an industrial powerhouse and a global leader in logistical services by fuelling up the growth in four key sectors ? industry, mining, energy and logistics.
Mohamed Al Ajlan, deputy board chairman of Ajlan & Bros Holding Group Company, said, ?We are excited to collaborate with Hanergy. Thin-film power is a promising market, especially in Saudi Arabia. The renewable energy facilities are bound to reform the landscape of the country?s energy industry and help us achieve our goals in the 2030 Vision.?
Hanergy has anchored its roots in Saudi Arabia market with its cutting-edge technologies and innovative products while Ajlan & Bros Holding Group Company is one of the leading international companies in the country and the Gulf region, investing in multiple industries like real estate and fashion.
President of Hanergy Saudi Arabia Country Company Wei Qiang, added, ?At Hanergy we have accorded priority to Saudi Arabia as one of the key strategic markets for our business globally. We realise the potential of renewable energy in Saudi Arabia and have set out an organised and specific road map to diversify our business in the country while supporting the advancement of renewable energy and fulfil the kingdom?s commitments to reducing carbon dioxide emissions. The collaboration with Ajlan & Bros could be a turning point for both Hanergy and solar industry of Saudi Arabia.?