Goldi Solar, Desert Technologies of Saudi Arabia sign pact to explore green energy investments

New Delhi: Gujarat-based Goldi Solar has signed an agreement with Saudi Arabia-based Desert Technologies to explore investment opportunities in the green energy space, its MD Ishver Dholakiya said.

Goldi Solar said in a statement that as per the Memorandum of Understanding (MoU), it will offer technologies to develop green projects.

"As part of the agreement, the entities will tap opportunities in India, Saudi Arabia, as well as in other countries.

"We expect to work with Desert Technologies to make high-quality solar panels and make them accessible to a wider customer base and support the kingdom (of Saudi Arabia) in achieving its... renewable goals," Dholakiya told PTI on the sidelines of the event on Monday.

The MoU was signed in the presence of Khalid bin Abdulaziz Al Falih, Minister of Investment at India Saudi Arabia Investment Forum 2023, in New Delhi.

"We are confident that this partnership will deliver promising results, significantly contributing to the Saudi renewable market, and help meet India's renewable energy targets by 2030," Desert Technologies CEO Khaled Sharbatly said.

Besides, a key objective of the agreement is to establish an Original Equipment Manufacturer (OEM) supply system for PV (photovoltaic) module manufacturing, PV cell production, EVA (Ethylene Vinyl Acetate) encapsulant, and back sheets production.

Gujarat-based Goldi Solar has two module manufacturing plants totaling 3 GW in Pipodara and Navsari districts of the state.