SAR200 million for renewable energy joint venture
December 20, 2019 (Saudi Arabia)
According to the Saudi Gazette, the General Investment Authority (SAGIA) has announced a joint venture (JV) between the Al Rushaid Group and the French-based Optimum Tracker, to provide design and engineering services in the field of solar energy. The JV willl create a new, Saudi-registered company which will focus on the manufacturing of mounting system structures for solar PV panels.
The initial investment of SR200 million, will see the JV base their main operations in the Kingdom’s Eastern Province and target a gradual capacity to no less than 150 megawatts (MW).
Read the original article on Saudi Gazette: SAGIA announces new joint venture in renewable energy sector