EnerTech, a newly launched wholly owned subsidiary of National Technology Enterprises Company (NTEC), and Morgan Solar (MSI), a Canadian-based solar technology company, have entered into a strategic investment and partnership agreement.
Under the agreement, EnerTech will invest in MSI, and will establish local manufacturing and assembling facilities aimed at transfering technology and know-how to Kuwait and the region for MSI’s technologies.
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MSI has developed a revolutionary, low cost and high efficiency solar concentrated photovoltaic (CPV) technology as well as a two-axis tracker, with enhanced great potential for adoption in the Middle East.
The two firms will work together to develop the market in the Middle East which would see more than 40 gigawatts of solar energy projects over the next few years.
NTEC general manager Anas Meerza and EnerTech chief operating officer Abdullah Al-Mutairi said in a joint statement that the team will strive to develop key projects in the region.
"Morgan Solar has developed a breakthrough and disruptive technology in the solar energy sector, which will be a game changer in terms of high efficiency, low cost CPV module and lower levelized cost of energy," Meerza and Mutairi added.
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By GlobalDataMorgan Solar advanced technologies chief technology officer John Paul Morgan said, "Through this strategic partnership, we will develop the CPV and tracked PV markets in the Middle East, expanding MSI’s presence worldwide."
