Total types joint venture for C&I solar release in Saudi Arabia

Mar 4, 2021 05:53 PM ET
  • French oil significant Total and also industrial empire Zahid Group have developed a joint endeavor (JV) focused on distributed solar generation for Saudi Arabia's business as well as industrial (C&I) sector.
Total types joint venture for C&I solar release in Saudi Arabia
Image: Total Solar Distributed Generation

Called SAFEER-- Saudi French for Energy Effectiveness and also Renewables, business will certainly be experts in C&I PV setups on roofs as well as carports.

Teaming up for the JV are Total Solar Distributed Generation as well as Altaaqa Alternative Solutions, an utility and subsidiary of Saudi-based Zahid Group.

The companions claimed SAFEER's mission is to bring inexpensive as well as dependable solar power remedies to C&I customers in Saudi Arabia and "blaze a trail in the advancement of the community for dispersed generation".

Julien Pouget, elderly vice head of state of renewables at Total, claimed the French firm will certainly bring its knowledge in on-site solar power services "to give clean, budget-friendly as well as trusted energy" to C&I consumers.

The partnership comes less than a year after Total announced strategies to come to be web absolutely no by 2050 as well as reach a 25GW renewables portfolio by 2025. The firm's clean energy ambitions have actually since seen it acquire a stake in Indian solar developer Adani Environment-friendly Energy as well as develop a US-focused JV with a division of Hanwha Group to release solar as well as storage projects with a total capability of 1.6 GW.

For Zahid Group, the bargain enhances its solar placement following its 2018 purchase of a 50% passion in German utility-scale PV developer Greencells.

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