A Saudi-Israeli renewable energy joint venture is here: Saudi’s Ajlan & Bros Holding (ABH) has formed a JV with Israeli renewable energy solutions provider SolarEdge to deploy smart renewable energy solutions in the kingdom, according to a statement. The JV will offer Saudi companies a range of solutions from SolarEdge’s portfolio including energy generation, storage, and management. No financial details have been disclosed, but ABH will be a majority shareholder, the statement notes.

In the works for a while? Back in 2022, Times of Israel reported that SolarEdge signed an agreement with ABH to explore investments in renewables. News of the JV comes a day after Israeli Foreign Minister Eli Cohen discussed increasing Israeli ties in MENA with US Special Envoy Dan Shapiro, according to Bloomberg.

About SolarEdge: Founded in 2006, SolarEdge provides intelligent inverter solutions for the photovoltaic industry. The company offers a range of products and services for residential, commercial, and utility-scale solar PV installations including power optimizers, inverters, storage solutions, and a cloud-based monitoring platform. The company has invested heavily in Europe, and also has investments in Australia and the US.

About ABH: Founded in 1979 in Riyadh, Ajlan & Bros Holding is a diversified conglomerate in the MENA region with interests in a wide range of industries including energy, real estate, manufacturing, and retail. ABH has investments across 25 countries with a focus on sustainability projects, especially in Africa.

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