AN MoU signed by a Saudi firm with a multinational company aims at setting up a photovoltaic inverter manufacturing facility in Saudi Arabia.

It was signed between Advanced Electronics Company (AEC), a regional pioneer in the innovation and development of advanced electronics serving the military, telecom and industrial sectors, and Kaco New Energy of Germany to develop business opportunities in the solar energy sector.

As well as setting up a PV inverter manufacturing facility at the AEC complex in Riyadh, the plan is to set up a customer support and maintenance services centre there.

“This collaboration reflects the respected capabilities of AEC as a world-class electronics manufacturer. I am sure that AEC and Kaco will make a very successful team. Our joint initiative also aligns completely with the King Abdullah City for Atomic and Renewable Energy (KACare) strategy,” said AEC president and Ceo Dr Ghassan Al Shibl.

The proposed KACare renewable procurement programme will be among the largest sustained efforts of this kind in the world. It is intended to result in over 54 GW of energy by 2032.

“Of course, all of our activities underscore our support for local employment, and this is an outstanding opportunity to create new jobs. We believe that our commitment to Saudisation sets an example that the whole kingdom can be proud of. We also look forward to seeing our nation become the acknowledged leader in solar energy,” he added.

Kaco New Energy CEO Ralf Hofmann said his firm provides a century of experience, and has ensured its specialised technological leadership through adherence to the highest global technical standards.

“At the same time, the capabilities of AEC, and their expertise in knowledge and technology transfer, are renowned. We know that AEC is completely ready to handle new opportunities, and is able to move to full production very swiftly. Together, we will support research and development in the kingdom, as well as repairs and maintenance for customers,” explained Hofmann.

He expressed confidence that the local manufacture of PV inverters will enable prompt local service and support. “This will provide the benefits of a reduced level of items that require to be held in stock, as well as shorter lead times for supply,” he added.