Desert Technologies Signs Major Agreements in Renewable Energy Sector

Desert Technologies Signs Major Agreements in Renewable Energy Sector

The agreements involve cooperation between Saudi and Greek private companies in the renewable energy sector

Desert Technologies Investments has signed two memoranda of joint cooperation with Greek companies MYTILINEOS and Raycap, to work in the renewable energy sector with special reference to solar PV and energy storage systems.

The cooperation agreements were signed in a framework of Saudi Crown Prince and Deputy Prime Minister Mohammed Salman Abdulaziz's visit to to Greece.

The two agreements establish a framework for cooperation between the Saudi and Greek private sectors in the fields of renewable energy, renewable energy efficiency, and solar energy storage solutions.

These memoranda reflect Desert Technologies’ strategy to increase its production capacity for solar panels to meet the growing local needs and the increase in the volume of Saudi exports.

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It also aims to expand its investments in the sectors of investment, contracting and development, in order to enhance the level of its operations inside Saudi Arabia and open new markets regionally and internationally, especially in the Greek and European markets.

The deals were signed in the presence Saudi Minister of Investment, Eng. Khalid Abdulaziz Al-Falih; Saudi Minister of Commerce Dr. Majid Abdullah Al-Qasabi; and Saudi Minister of Communications and IT, Eng. Abdullah Amer Al-Sawaha.

The Minister of Development and Investments at Government of the Hellenic Republic Adonis Georgiadis was also present on the occasion.

The agreements were signed by Khaled Ahmed Sharbatly, CEO of Desert Technologies Investments, Kostas Apostolidis, Founder and Chairman at Raycap Corporation, and Evangelos Kamaris, International Business Development Director at MYTILINEOS.

Mr Sharbatly said: “These partnerships confirm the commitment of the Desert Technologies Group to achieve the objectives of the Kingdom’s 2030 Vision through active participation in increasing the volume of Saudi non-oil exports and Saudi investments at the international level.

"The company has great confidence in the promising Greek market, especially in the field of solar energy."

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