Key Highlights:
The appetite for medium to large-scale electricity consumers is enhanced towards adopting solar PV systems to cover as much as they can of their annual consumptions.
Regarding our export business, the first half of 2022 exceeded our expectations very favorably.
As for Jordan, we are still optimistic that the market will continue to add more megawatts to the grid.
How has the year 2022 been for your esteemed company? Any key developments?
The year 2022 was overall very good. We witnessed a development in the Jordanian market although the electric utilities already banned mega-scale projects since 2019. The appetite for medium to large-scale electricity consumers is enhanced towards adopting solar PV systems to cover as much as they can of their annual consumptions. Regarding our export business, the first half of 2022 exceeded our expectations very favorably. New markets in the region demanded large quantities of solar PV components and we managed to cover some major needs.
How is Izzat Marji Group keeping up with the latest technologies in solar space?
Since the establishment of the Renewable Energy & Energy Efficiency Dept. back in 2012, we were the first to adopt the latest technologies. Partnering with the strongest and most credible solar PV components was the best strategy that goes in line with our Group’s strategy for promoting high-end products. Nowadays, we offer the latest technologies that come from the giant players in the solar markets such as Canadian Solar and SMA. We are witnessing the development of bi-facial modules from many manufacturers as well as having N-type silicon commercially feasible.
What technology shifts are we witnessing in the Middle East region currently?
Despite the fact that European countries are increasing their renewable energy shares because of the global energy crisis, the Middle East still has a large room for improvement. The major player in the near future will be large-scale solar PV power plants with tracking solutions. However; I believe the storage potential will increase either for medium size and large-scale projects. Most Middle Eastern countries don’t have smart grids. This will restrict renewable energy penetration. Also, transforming into smart grids will be costly. Therefore; energy storage will allow the regular grids to increase the total RE ratio in the energy mix.
What is your growth plan for 2023?
As for Jordan, we are still optimistic that the market will continue to add more megawatts to the grid. We will support our branches in the region. The Saudi market is expected to be booming in 2023. We will study all opportunities to expand our reach wherever possible.
How do you see the solar sector shaping up in the region in 2023?
Globally, the Solar business will increase dramatically. Not only China is transforming into renewable resources heavily, but also the European Union, the USA and the Middle East, and North Africa are adding Giga-Watts of new capacities.
