Isofoton, Indsys set JV to develop 300 MW PV projects in Saudi Arabia

SeeNews) - Sep 27, 2012 - Spanish photovoltaic (PV) cell and module maker Isofoton and Saudi Arabian Industrial Systems Corp (Indsys) have established a joint venture (JV) to install 300 MW photovoltaic (PV) projects in Saudi Arabia, the Spanish firm said yesterday.
The agreement, signed on August 15, envisages development and construction of solar plants in the Middle East, North Africa and India, including Saudi Arabia, all priority markets for the PV industry in the next years, Isofoton said.
Isofoton and Indsys, on the other hand, have focused on Saudi Arabia as, according to data from the King Abdullah City for Atomic and Renewable Energy (KA-CARE), the government targets to install about 14 GW of solar PV facilities by 2030.

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