Goldi Solar and Desert Technologies of Saudi Arabia to explore green energy investments

Goldi Solar and Desert Technologies of Saudi Arabia to explore green energy investments

New Delhi: According to its MD Ishver Dholakiya, Gujarat-based Goldi Solar and Desert Technologies of Saudi Arabia have inked a contract to look into investment potential in the green energy sector. According to the Memorandum of Understanding (MoU), Goldi Solar announced in a statement that it will provide 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.

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

“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.

In addition, the agreement’s primary goal is to set up an Original Equipment Manufacturer (OEM) supply system for the production of PV (photovoltaic) modules, cells, EVA (Ethylene Vinyl Acetate) encapsulants, and back sheets.

In the state’s Pipodara and Navsari districts, Gujarat-based Goldi Solar has two module production facilities with a combined capacity of 3 GW.

About Goldi Solar

Goldi Solar is a Gujarat-based company that manufactures and exports high-end photovoltaic modules, provides EPC services, and is an independent power producer (IPP). The company was founded in 2011 by Ishver Dholakiya and Bharat Bhut, who have over 20 years of experience in the solar industry. The company has two module manufacturing plants in the Pipodara and Navsari districts of Gujarat, with a total capacity of 2.5 GW.

The company also has a solar park at Amod, Bharuch, with an 8 MW installation. The company caters to several international brands in 20+ countries and has a vision to expand its module manufacturing capacity to 6 GW and cell manufacturing capacity to 5 GW by 2025. The company also launched its power backup solutions business in July 2023 with the launch of its VAMA On-grid range of inverters.