Updated: Isofotón unveils 300 MW Saudi PV plans


Spain-based Isofotón signed the agreement with Saudi Arabia’s INDSYS back in August. Under the terms, they will design and construct photovoltaic plants across MENA and India.

While the financial details have not been disclosed, a spokesperson for the company tells pv magazine that construction is slated to begin in Q2 2013 and should be complete by the end of next year. Meanwhile, all permits and approvals are said to be being processed.

The agreement is supported by the Saudi government, which recently unveiled its plans to install 41 GW of solar by 2032. It was also reported that the government is looking to attract investment of up to $109 billion to establish a solar industry in the region, with the aim of harnessing a third of the kingdom's power needs from solar energy.

Commenting on the new partnership, Ángel Luis Serrano, Isofotón president, stated, "This agreement … provides a highly valuable platform for focusing all our photovoltaic projects in the Middle East, North Africa (MENA) and India: priority markets for the photovoltaic industry in the coming years."

Isofotón is on an internationalization mission on the back of Europe’s declining presence. While its attempt to take Q.Cells over failed, the company is not resting on its laurels. In addition to opening up a photovoltaic manufacturing facility in Napoleon, Ohio, it told pv magazine at this year’s Solar Power International it is also looking to set up manufacturing facilities in Brazil, China and Saudi Arabia.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.