Siemens and Saudi Arabian solar company Desert Technologies have formed a joint venture (JV) called Capton Energy. The joint venture will be based in Dubai, UAE, and invest in the development of solar energy and smart infrastructure in the Middle East, Africa and Asia.

“Solar energy plays a key role in the global energy transition,” said Steffen Grosse, head of SFS Equity Finance. “The launch of Capton sets the stage for helping drive the expansion of more sustainable and flexible energy systems across the Middle East, Africa and parts of Asia, We look forward to building this platform together with Desert Technologies. "Capton Energy aims to support projects with a combined capacity in excess of 1GW that will provide clean energy to underserved markets.

The joint venture will invest in existing and new solar power projects ranging from 20 megawatts to 100 megawatts of power generation capacity. It will also provide opportunities for third-party investors to participate in the energy transition. Keywords: engineering construction, engineering news

Nour Mousa, founder of Desert Technologies, said: “Solar power enables places without reliable energy grids to leapfrog traditional infrastructure common in developed countries and benefit from sustainable, clean and affordable electricity. “We are eager to collaborate with Capton and Siemens , supporting projects and driving positive change aligned with our Environmental, Social and Governance (ESG) ideals. "This effort to fully optimize the potential of solar energy and technologies such as sustainable microgrids and smart distributed energy systems will underpin our ideals and demonstrate a positive impact."Editor/XingWentao