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Desert Technologies and Modon to Establish One of the Largest Solar Panel and Cell Factories in Saudi Arabia
Oct 31, 2024•over 1 year ago
Contract Type
partnership
JeddahManufacturingEnergyRenewable EnergySolarBiomass EnergyDescription
Desert Technologies and the Saudi Authority for Industrial Cities and Technology Zones, 'Modon,' have announced a partnership to establish an industrial complex in Jeddah’s third industrial city. The facility will produce solar panels and cells with an annual capacity of up to 5 GW and an investment worth 750 million Saudi Riyals, aiming to meet the growing local demand for solar energy solutions.
Agreement Insights
Based on industry dataStrategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months