REC, O Capital partner on solar development in Middle East, Africa


PV manufacturer REC is teaming up with O Capital, an energy sector subsidiary of Egypt’s Orascom Telecom Media and Technology Holding (OTMT), on wide-ranging solar power development activities in Egypt as well as in the Middle East and Africa.

The strategic venture will combine REC’s high performing solar panels and expertise in solar power turn-key solutions with O Capital’s access to the promising local and regional solar markets and its strong position in Egypt’s infrastructure sector, the companies said on Thursday. Specifically, O Capital will manage tender processes for solar installations in the residential, commercial and utility segments and provide relevant local expertise and resources for the turn-key installations, while REC will add its engineering know-how and technology.

The partnership is seen as part of REC’s efforts to broaden its reach in the region as it expands internationally. The Norway-based, Chinese-owned company with operational headquarters in Singapore is looking to drive its business around the world by establishing local sales offices and cooperating with international partners.

As part of its alliance with O Capital, REC said it would offer its “vast knowledge on best-practice in EPC and O&M through on-the-job training and workshops to help get new solar projects in the region up and running effectively and reliably.”

REC’s recent projects in the region include one of the world’s largest solar test facilities in Dubai and the first privately financed large commercial rooftop installation in Dubai’s free zone. REC’s solar panels have also been installed on the rooftop of a terminal at Dubai International Airport. The company has further projects in the pipeline and expects an increase in business through its new pact with O Capital.


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