Desert Technologies Signs Agreements With MYTILINEOS And Raycap To Collaborate In Renewable Energy Sector

Desert Technologies Investments announces the signing of two memoranda of joint cooperation, with industry-leading companies Mytilineos and Raycap, in the field of renewable energy.

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Desert Technologies Investments signed two agreements one with MYTILINEOS, the largest Greek company in the industry and renewable energy, as well as with Raycap, the leading Greek company for energy and communications solutions, to explore the possibility of collaboration to create and commercialize innovative solutions to the renewable energy sector, with a special focus on solar PV and energy storage. This was signed during the visit of Crown Prince Mohammed Salman Abdulaziz and Deputy PM of the Kingdom of Saudi Arabia to Greece.


These collaborations will establish a framework of cooperation between the private sectors of Saudi Arabia and Greece in the areas of renewable energy, solar energy storage, and renewable energy efficiency solutions. They work together to establish qualitative partnerships among the parties in order to localize materials and products related to solar panel manufacturing and associated supply chains. In addition, they exchange experiences and information about renewable energy.

In the presence of several members of both the Saudi Arabia and Greek delegations, including the Saudi Minister for Investment, Eng. Khalid Abdulaziz Al-Falih, Dr Majid Abdullah Al-Qasabi, the Saudi Minister for Commerce and Acting Ministry of Media and Eng. Abdullah Amer Al-Sawaha, the Saudi Ministry of Communications and Information Technology and Adonis Georgiadis, the Minister of Development and Investments, Government of the Hellenic Republic, the agreements were signed. The MoU was signed by the CEO of Desert Technologies Investments, Mr Khaled Ahmad Sharbatly, Chairman of Raycap Corporation, Mr Kostas Papalidis, as well as International Business Development Director at MYTILINEOS, Mr Evangelos Kamaris.

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These agreements are part of Desert Technologies’ strategy for increasing its production capacity of solar panels in order to meet growing local demand and increase in Saudi exports. It plans to increase its investments in the investment, contracting, and development sector to improve its operations in Saudi Arabia. This is especially true after Desert Technologies has established strategic partnerships with many European, American, and African governments. These partnerships have allowed the company to export its solar panels to international markets.

Mr Khaled Sharbatly, CEO of Desert Technologies Investments, said, “These partnerships confirm the commitment of the Desert Technologies Group to achieve the objectives of the Kingdom’s 2030 Vision through active participation in increasing the volume of Saudi non-oil exports and Saudi investments at the international level. The company has great confidence in the promising Greek market, especially in the field of solar energy,” adding, “We will work together within the framework of the two memoranda of cooperation to benefit from our joint experiences and our growing investment capabilities to increase the volume of investments and projects in the field of solar energy, to support the Greek state’s efforts to reduce climate change and rely on renewable energy sources. We in Desert Technologies, based on our pioneering role in the field of energy, and thanks to the support that the renewable energy sector receives from the wise leadership, are continuing to achieve our ambitious strategy to enable the transition towards renewable energy, and our partnership today with the Greek side embodies our commitment to this strategy and our aspiration to contribute to achieving the objectives of the Kingdom’s Vision 2030 to diversify energy sources, and enhance their efforts to preserve the environment, dealing with climate change and achieving zero neutrality.”

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