- Power & Water
- Health & Safety
- Business & Management
- Buyers' Guide
Saudi Arabian investment firm Khaled Juffali Company (KJC) and French solar power solutions provider Soitec have entered into an agreement that will see the companies cooperate to boost the solar energy sector in Saudi Arabia
As part of the agreement, the investment firm will create a joint venture with Soitec to sell concentrator photovoltaic (CPV) systems in the country.
Soitec’s CPV technology utilises triple-junction cells mounted on a glass plate, which the firm said can achieve at least twice the performance of conventional solar PV technologies. The firm claimed that this unique technology makes it "the most cost-efficient solution for high-volume power generation in regions with high-direct normal irradiation".
KJC chairman and founder Sheik Khaled Juffali said, “Soitec holds a leading position in the CPV industry and operates in 14 countries around the world, including a demonstration system at the Medina College of Technology in Saudi Arabia. A partnership with such a firm is bound to prove beneficial.”
Soitec’s executive vice president of the solar division Gaetan Borgers noted, “KJC is an excellent partner with a track record of creating successful multinational partnerships. Solar energy will play a key role in meeting Saudi Arabia’s increasing electricity demand and, thanks to KJC. We hope to establish CPV as a key solution to this challenge.”