Hanergy to Launch Middle East’s 1st Thin-Film Solar Park at Investment of $1 Billion

Hanergy Thin Film Power Group has announced that it has signed an investment cooperation agreement with Ajlan & Bros to commence the first solar thin-film industrial park in the Middle East (ME) region. The total investment of the project will be over $1 billion.

As per the agreement, the two companies will team up to develop renewable energy manufacturing facilities in Saudi Arabia and collectively seek significant investment opportunities.

Commenting on the progress, Ajlan & Bros Holding Group Company, Deputy Board Chairman, Mohamed Al Ajlan said, “We are excited to collaborate with Hanergy. Thin-film power is a promising market, especially in Saudi Arabia. The renewable energy facilities are bound to reform the landscape of the country’s energy industry and help us achieve our goals in the 2030 vision.” With this association, Hanergy marks yet another breakthrough in the Middle East market.

“At Hanergy we’ve accorded priority to Saudi Arabia as one of the key strategic markets for our business globally. We realise the potential of renewable energy in Saudi Arabia and have set out an organized and specific road map to diversify our business in the country while supporting the advancement of renewable energy and fulfil the Kingdom’s commitments to reducing carbon dioxide emissions,” said Wei Qiang, President of Hanergy Saudi Arabia Country Company.

“The collaboration with Ajlan & Bros could be a turning point for both Hanergy and solar industry of Saudi Arabia,” he added.