Essar Group and Desert Technologies sign MoU for renewable energy solutions
Desert Technologies (DT) an independent solar PV and smart infrastructure holding company and Essar Group have signed a Memorandum of Understanding (MOU) to develop renewable energy solutions for Essar Group’s Green Steel Arabia (GSA) project in the Kingdom of Saudi Arabia (KSA) as well as potential future projects.
The MOU was executed between Desert Technologies and Essar Group in the G20 summit on Monday.
The companies said, through this partnership, they will develop solutions for renewable energy generation and storage for Essar’s Flat Steel Complex in the KSA which is the first green steel project in the GCC region and will also explore opportunities for other potential projects.
“Desert Technologies's MOU with Essar signifies our long-term commitment to meet the growing demand for renewable energy solutions; especially in the KSA. Its solutions in the renewable energy sector, price competitiveness and low Carbon footprint solutions will further boost the growing low CO2 emission steel industry," said Chief Executive Officer of DT Investments, Khaled Sharbatly.
Based in Saudi Arabia, and operating in more than 25 countries, Desert Technologies has a proven track record as a PV developer, investor, EPC and O&M contractor, PV solar panel manufacturer, and energy storage systems integrator.
Essar is currently looking at investing about $4.5 billion in setting up an integrated steel plant in Ras Al Khair,
Saudi Arabia.
This partnership with Desert Technologies will give the company access to green energy and carbon free energy storage solutions; thereby strengthening its commitment towards low carbon footprint.
«We are committed to continue to enhance KSA’s local content and help local businesses to grow with us. This
