Goldi Solar and Desert Technologies sign MoU to boost renewable energy in India, Saudi Arabia, and globally

Surat: Goldi Solar, India’s most quality-conscious solar brand located in Surat, has signed an MoU with Desert Technologies, a prominent solar PV and smart infrastructure holding company based in Saudi Arabia, to increase renewable energy prospects in India, Saudi Arabia, and internationally.

The MoU was signed at the India Saudi Arabia Investment Forum 2023 in New Delhi in the presence of HE Khalid bin Abdulaziz Al Falih, Minister of Investment, Kingdom of Saudi Arabia, and Piyush Goyal, Minister of Commerce and Industry, Government of India.

Goldi Solar will provide TOPCON/HJT technology under the parameters of the MoU in order to localise a large piece of India’s renewable energy value chain, including R&D and production. One of the key goals is to develop OEM supply for PV Module manufacture, PV cell production, EVA encapsulant production, and back sheet production.

In addition to expanding the manufacturing industry, Goldi Solar and Desert Technologies will collaborate on initiatives ranging from technical roadmaps to process optimisation to new product development. This strategic alliance will not be restricted to the private sector; both corporations will lead connections with public and semi-public organisations in their respective areas of India and Saudi Arabia.

As part of the agreement, the firms may form a joint venture to execute projects in India and capitalise on investment possibilities in different areas across the world, including Europe and America. Individual projects will determine the proportion of each Party’s involvement in the JV.

Capt. Ishver Dholakiya, Goldi Solar’s Founder and Managing Director, expressed his excitement, saying, “We eagerly anticipate working alongside Desert Technologies to make high-quality solar panels accessible to a wider audience and supporting the kingdom in achieving its contribution to Vision 2030 renewable goals.”

“Goldi Solar’s esteemed reputation in the global renewable market made it clear that this agreement was the right step to take,” said Khaled Sharbatly, CEO of Desert Technologies. Their experience, products, and commitment to advancing new technologies further strengthened our faith in them. We are optimistic that this collaboration will produce good outcomes, notably contributing to the Saudi renewable market and assisting India in meeting its renewable energy objectives by 2030.”

This collaboration offers enormous potential for furthering India’s renewable energy ambitions, particularly the aim of producing 50% of its power from renewable sources by 2030. Goldi Solar and Desert Technologies are well positioned to help achieve these goals by guaranteeing universal access to high-quality solar panels and components.

Furthermore, this MoU opens the door to investment prospects in India. As both firms collaborate to localise renewable energy production and investigate different initiatives, a fertile foundation for attracting investments in the Indian renewable energy market is created. The partnership not only boosts the local supply chain but also improves the country’s overall investment climate. This is an important step towards a more sustainable energy environment, innovation, and solving global renewable energy concerns.

The usage of solar energy has steadily increased in recent years, owing to growing global energy needs. As a result, boosting global demand for solar panels in Saudi Arabia is an important component of its Vision 2030. Aside from the environmental advantages, it is important to note that the kingdom of black gold’s geographical position makes using renewable energy sources economically appealing.