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IAN, the wholly owned renewable energy arm of UAE-based AG Holding, has agreed to distribute solar solutions from China-based DMEGC Solar across the GCC.
The IAN-DMEGC deal will tap the region’s 24 billion UAE dirhams ($6.53 billion) solar PV market, the companies said in a joint statement.
DMEGC Solar is a high-efficiency solar panel supplier and manufacturer in the renewable energy sector. It provides full-scenario photovoltaic solutions worldwide for residential, commercial, and utility-scale applications.
Dubai-based IAN will distribute DMEGC Solar’s solutions in the UAE and in neighbouring markets, the statement said.
The collaboration marks DMEGC Solar’s foray into the GCC, said Leon Lu, General Manager of Global Sales of DMEGC Solar.
DMEGC Solar operates six manufacturing bases and more than 20 factories, producing silicon wafers to solar cells and solar modules with annual capacities of 23.8 GW (cells) and 21 GW (modules), and over 60 GW in cumulative shipments.
The UAE is making significant investments in solar projects as part of its clean energy strategy, including a commitment of AED 198 billion under its National Energy Strategy through 2030.
Key projects include the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, which aims to reach 5,000 megawatts by 2030 with an investment of AED 50 billion.
Additionally, Masdar, an Abu Dhabi-based renewable energy and sustainability company, is developing new large-scale solar projects with battery storage, such as the AED 22 billion initiative with 5 gigawatts (GW) of solar capacity.
(Writing by P Deol; Editing by Anoop Menon)
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