Israeli solar energy giant SolarEdge is entering a joint venture with Middle Eastern conglomerate Ajlan & Bros Holding (AHB) to promote solar energy adoption in Riyadh, Saudi Arabia. This collaboration supports Saudi Arabia’s Vision 2030 initiative, aimed at diminishing the nation’s oil dependence by the decade’s close. The partnership will provide Saudi organizations with SolarEdge products and consultancy to aid in transitioning to renewable energy. SolarEdge CEO Zvi Lando expressed pride in supporting Saudi Arabia’s energy goals. Last year, despite no formal diplomatic relations, Israeli and Saudi business leaders engaged in talks concerning investments, reflecting the strengthening ties between the nations. Saudi Arabia’s renewable energy capacity is expected to reach 1.5 gigawatts this year, though fossil fuels still constitute 99% of its power generation.
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