Goldi Solar, Desert Technologies Sign MoU To Expand RE 

Goldi Solar, Desert Technologies Sign MoU To Expand RE 

Indian Solar module manufacturer Goldi Solar has signed a Memorandum of Understanding (MoU) with Desert Technologies, a solar PV and smart infrastructure holding company based in Saudi Arabia. The two firms have planned to use this partnership to boost the expansion of renewable energy in India and Saudi Arabia. 

The MoU, part of the India-Saudi energy cooperation pact, was signed in the presence of HE Khalid bin Abdulaziz Al Falih, Minister of Investment, Kingdom of Saudi Arabia, and Piyush Goyal, Minister of Commerce and Industry, Government of India at India Saudi Arabia Investment Forum 2023 in New Delhi.

Under the terms of the MoU, Goldi Solar will offer TOPCON/HJT technologies to localize a significant portion of India’s renewable energy value chain, encompassing R&D and manufacturing. One of the primary objectives is to establish Original Equipment Manufacturer (OEM) supply for PV Module manufacturing, PV cell production, EVA encapsulants, and back sheets production.

Five Indian States Account For 75% of Solar Module Manufacturing

Also Read

In addition to advancing the manufacturing sector, Goldi Solar and Desert Technologies will work together on projects across various fields, including technology roadmaps, process optimization, new product development, etc. This strategic partnership is not limited to the private sector, as both companies will also lead relationships with public and semi-public organizations within their respective regions in India and Saudi Arabia.

As part of the MoU, the companies can also establish a Joint Venture to execute projects within India upon mutual agreement and capitalize on investment opportunities across various markets globally, including Europe and America. The percentage of each Party’s participation in the JV will be tailored to individual projects.

Goldi Solar’s Founder and Managing Director, Capt. Isger Dholakiya said, “This collaboration signifies a positive step forward, demonstrating that our top-tier products and cutting-edge technologies empower our partners to achieve their sustainability goals. We eagerly anticipate working alongside Desert Technologies to make high-quality solar panels accessible to a wider audience and supporting the kingdom in achieving its contribution to Vision 2030 renewable goals.”

As Solar Exports See Striking Surge, Indian PV Manufacturers Face New Challenges

Also Read

Khaled Sharbatly, CEO, of Desert Technologies, said, “We are confident that this partnership will deliver promising results, significantly contributing to the Saudi renewable market and helping meet India’s renewable energy targets by 2030. We eagerly look forward to forging a long and robust partnership with Goldi Solar.”

This partnership holds great promise in advancing India’s renewable energy goals, including the target of generating 50 percent of its electricity from renewables by 2030.