Startup Bringing Israeli Green Energy To Saudi Arabia 

An Israeli green energy firm has announced a joint venture with a Saudi Arabian investment conglomerate to help with the Gulf nation’s transition towards clean solar energy. 

SolarEdge makes solar powered devices, batteries, electric motors and electric power generators. The company’s pioneering device, the SolarEdge DC optimized inverter, converts solar energy into electricity while maximizing power generation and lowering the cost of energy. 

The Herzliya-based company has clean energy solutions installed in over 140 countries worldwide.

SolarEdge’s renewable energy solutions will help to improve energy generation, storage, and management systems in Saudi Arabia to help the oil-producing country meets its goal of reducing its dependence on the fossil fuel by 2030. 

The joint venture will be located in Saudi capital Riyadh, and will be managed by teams from both companies. The Saudi Ajlan & Bros Holding (ABH) will be the majority shareholder.

“We are honored to partner with Ajlan & Bros Holding,” said Zvi Lando, Chief Executive Officer of SolarEdge. 

“SolarEdge is committed to driving the clean energy transition on a global scale, exemplified by this JV which will provide local enterprises in Saudi Arabia with the support they need to rapidly transition away from fossil fuels to clean solar energy and meet their aggressive renewable energy goals.”