Advanced Electronics Company (AEC) of Saudi Arabia and KACO new energy of Germany have signed a Memorandum of Understanding (MoU) to develop new business opportunities in the field of solar energy, with the focus on Photovoltaic (PV) inverters. The purpose is to serve the growing demand for energy in Saudi Arabia and the MENA region.AEC and KACO new energy agreed that it is in the best interests of their companies to work together in exploring the development of photovoltaic solar energy opportunities. Among a number of objectives and initiatives for consideration, is the potential to set up PV inverter manufacturing at AEC, for the Kingdom of Saudi Arabia and MENA region. The plan is to also establish a customer support and maintenance services center at AEC’s facility in Riyadh, Saudi Arabia.

Dr. Ghassan Al-Shibl, President & CEO of AEC, commented: “This collaboration reflects the respected capabilities of AEC as a world-class electronics manufacturer. I am sure that AEC and KACO new energy will make a very successful team. Our joint initiative also aligns completely with the King Abdullah City for Atomic and Renewable Energy (K.A.CARE) strategy. 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 Saudization 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.”

Mr. Ralf Hofmann, CEO of KACO new energy, stated: “KACO new energy provides a century of experience, and has ensured its specialized 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 (R&D) in the Kingdom, as well as repairs and maintenance for customers. 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.”The proposed K.A.CARE renewable procurement program 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.