Indsys in JV pact with Isofoton to build 300MW PV in Saudi Arabia
- Saudi Arabia: Sunday, September 30 - 2012 at 03:32
Saudi-based Industrial Systems Corp (INDSYS) has agreed to set up a joint venture with Spanish PV group Isofoton to build 300MW of solar photovoltaic (PV) plants in Saudi Arabia. Under the agreement, the two partners plan to jointly develop and construct significant PV projects in the Middle East, North Africa and India region, including Saudi Arabia. This initiative will see Isofoton continue to spearhead developments in the photovoltaic sector at world level, responding to high photovoltaic demand, with plans in the pipeline to roll out 1,500 MW in the next two years.
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