SolarOne® Solutions, Inc. and Al-AbdulKarim Holding Announce License Agreement for Solar Lighting Systems in Saudi Arabia
SolarOne Solutions and Al-AbdulKarim Holding (AKH) have signed a license agreement to assemble, install and service SolarOne’s solar powered street light systems in Saudi Arabia. This agreement comes on the heels of significant orders received by the firms to install SolarOne’s solar streetlights along roadways leading to remote industrial facilities in the Kingdom. The partners signed the deal at the September 4th “US-Saudi Investment Forum 2015” held in Washington D.C. in conjunction with King Salman’s historic visit to the United States and meeting with President Obama.
The agreement is the next step in the SolarOne/AKH relationship after the firms jointly secured orders to install more than 2000 solar powered street light systems to illuminate over 60 Kilometers of roadway leading to remote oil and gas production facilities. Deployment of the first phase of this project is already well underway.
Combined, this will be one of the largest solar lighting projects of its kind in the Kingdom. In the multi-million dollar deal, SolarOne and AKH will be applying their respective strengths and experience to produce, assemble, install and service professional solar powered light systems to the rapidly developing industrial, infrastructure and solar markets in the region.
Saudi Arabia is ardently striving to fortify and diversify its industrial base, while reducing its own demand for conventional fuels. Major infrastructure programs are underway across the country. Solar lighting eliminates the need to trench and distribute grid power along the roadways and thereby avoiding significant costs and time associated with conventional roadway lighting, not to mention the fossil fuel and electricity savings the Country is seeking. With this technology transfer, SolarOne and AKH provide localization in Saudi Arabia of a fast-evolving sustainable technology. This in turn will make both companies more competitive, while allowing the Saudi workforce to participate with better job opportunities in their region. Localization was one of the central themes of the investment forum.
SolarOne President Moneer Azzam commented, “SolarOne is extremely pleased to forge this partnership with the Abdulkarim Group, a well-established, highly respected firm throughout the region, and to be part of the leading edge of localization in the Kingdom. This new agreement validates SolarOne’s technology and practices as the optimal solar lighting solution for this region. Inexpensive entry-level solar street lighting systems have been proven a poor fit for the demands of this market. With a punishing environment and the highest standards, lifetime project costs for our more sophisticated systems tend to be lower than for projects designed with entry-level offerings and a low per unit price. We look forward to growing our respective businesses and presence in the regional markets, working together with AKH.”
AKH Board member Musaed AlAbdulkarim is extremely pleased to be expanding its offering to include solar lighting solutions. “With our deep experience in the region and SolarOne as our partner, we are able to expand quickly with a high degree of confidence."