A memorandum of understanding between Desert Technologies and Goldi Solar to develop and localize the photovoltaic solar panel industry
New Delhi: Desert Technologies, the leading company in renewable energy solutions and the first Saudi company to manufacture and export solar panels and a member of the Made in Saudi Arabia program, and Goldi Solar Private Limited Company have signed a Memorandum of Understanding (MOU) and strategic partnership with the aim of cooperating in the evaluating and developing original equipment for PV Module manufacturing, PV cell production, EVA encapsulants and backsheets production, and TOPCon/HJT technologies to localize a significant part of the renewable energy value chain in the Kingdom of Saudi Arabia including research, development and manufacturing.
The Memorandum of Understanding (MOU) was signed between Desert Technologies and Goldi Solar during the Saudi Indian Investment Forum held from September the 10th to the 11th on the sidelines of the Saudi Crown Prince and Prime Minister Prince Mohammed bin Salman’s visit to New Delhi, India to participate in the G20 summit on the 9th and the 10th of September 2023. The MOU was signed by Mr. Khaled Sharbatly, CEO of Desert Technologies Investments, and Mr. Ishver Dholakiya the Founder and Managing Director of Goldi Solar.
In a statement, Mr. Sultan Khalid Al-Turki, Chairman of the board of directors at Desert Technologies, expressed his happiness at signing the MOU with Goldi Solar, which is one of the most important international companies in the field of developing the photovoltaic industry, adding: “The MOU comes within the framework of Desert Technologies’ commitment to increase and develop its production capabilities, enhance its global position and develop its products as the first Saudi company to manufacture and export solar panels to global markets. Moreover, the MOU reflects the commitment of the two parties to strengthen cooperation and joint work in order to develop the company’s products to meet the growing local and global demands. The company currently produces 935,000 solar panels annually with a production capacity of 3,000 megawatts annually, and aims to raise the production capacity to 4,000 megawatts annually, and open new markets for the Saudi product to keep pace with the goals of the Kingdom’s Vision 2030 and the “Made in Saudi Arabia” program, as well as create more jobs for Saudi youth.”
From his end, Mr. Ishver Dholakiya the Founder and Managing Director of Goldi Solar, confirmed: “According to the MOU, the two companies will cooperate in a number of important areas, and the parties will jointly define projects in many different fields including but not limited to technology road maps, process optimization, raw materials, samples, new product, laboratories, cell production, EVA encapsulants and backsheets production, and TOPCon/HJT technologies in the Kingdom of Saudi Arabia. Each Project will have specific objectives, resources, and deliverables. We are pleased with the strategic partnership with Desert Technologies and look forward to working together to develop the solar panel industry in the Kingdom of Saudi Arabia.”