As part of the agreement, the company will invest in Morgan Solar, which has developed a new solar concentrated photovoltaic (CPV) technology, and will transfer technology and know-how to Kuwait and the Middle East region by establishing local manufacturing and assembling facilities for MSI’s technologies.
The two companies will work together for developing the market in the Middle East, as the region targets more than 40GW of solar energy projects over the next few years.
EnerTech COO Abdullah Al-Mutairi and NTEC general manager Anas Meerza said, " Morgan Solar has developed a breakthrough and disruptive technology in the solar energy sector, which will be a game changer in terms of high efficiency, low cost CPV module and lower levelized cost of energy. We strive to develop key projects in the region. Leveraging MSI’s technologies and experience EnerTech can further enhance its development portfolio in renewable energy and strengthen the Group’s competitiveness in the clean tech business."
Morgan Solar chief technology officer John Paul Morgan said, "EnerTech is one of a few GCC based company with a clear mandate to develop large scale solar and other renewable energy projects, and to transfer world class technologies to the region. Through this strategic partnership, we will develop the CPV and tracked PV markets in the Middle East , expanding MSI’s presence worldwide."
