Array Technologies and Alupco® Announce Strategic Partnership to Fuel Growing Renewable Energy Market in the Middle East
23 Februar 2024 - 12:18AM
Array Technologies (NASDAQ: ARRY) (“Array” or “the Company”), a
leading manufacturer of utility-scale solar tracking technology,
announced a new strategic partnership with Aluminum Products
Company (ALUPCO®), a leading aluminum extrusion company in the
Middle East and North Africa, to support the growing market for
renewable energy projects in the region.
Headquartered in Albuquerque, New Mexico, Array has been at the
forefront of driving clean energy solutions both domestically and
globally. The new partnership will bring leading solar technology
to the fast-growing renewable energy market in the Middle East.
“Our alliance with ALUPCO® and expansion into the Middle East
underscores our dedication to the global clean energy market. Our
partners around the world share our commitment, and consistently
rely on us for our differentiators – engineered simplicity,
relentless reliability and a track record built on decades of
experience, performance, and trust. We’re eager to bring this
partnership to life with ALUPCO® and leverage the strengths and
dedication of both organizations to transform the energy
landscape,” states Array CEO, Kevin G. Hostetler.
Aluminum Products Company (ALUPCO®) CEO, Khaled Abdel-Moneim
adds, “As the leading aluminum solutions provider in the Middle
East and North African region, we are thrilled to partner with
Array as a pioneer and innovator, uniquely positioned to pave the
way in the renewables industry. With our shared commitment to
excellence focusing on performance and sustainability, we’re eager
to unlock new opportunities, continue driving innovation and
contribute to the Saudi and global economic landscape.”
To signify this relationship, both organizations participated in
the second Private Sector Forum earlier this month in Riyadh, the
capital of the largest economy in the Middle East. This forum,
hosted by Saudi Arabia’s Public Investment Fund featured
discussions between top business leaders and policymakers on the
private sector’s importance in economic development and
opportunities in emerging markets.
Under its Vision 2030 blueprint, the Private Sector Forum is a
strategic step in Saudi Arabia’s economic diversification, centered
on innovation, technology, and sustainable solutions. Saudi Arabia
has one of the highest solar irradiations in the world, estimated
at approximately 2,200 thermal kWh of solar radiation per square
meter. By the end of 2023, the country had 13 renewable energy
projects under development with a collective capacity of over 11
GW. The Middle East is poised to add nearly 70 GW of PV capacity
through 2030. According to Minister of Energy Prince Abdulaziz bin
Salman, Saudi Arabia aims to add 20 gigawatts of renewable energy
annually to reach 130 gigawatts of renewable energy before
2030.
The Private Sector Forum provides an environment for Array to
expand its global footprint and establish strategic partnerships,
solidifying its position as a driving force in the transition to a
cleaner energy matrix. It serves as a catalyst for collaboration
and awareness, playing a crucial role in helping promote a more
sustainable and renewable future in the Middle East.
Contact:
Mary Lieb, Senior Manager
mlieb@signaldc.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/2020c0d4-4cd2-4489-88ff-f7155b177a9a
https://www.globenewswire.com/NewsRoom/AttachmentNg/5f57f8b6-c280-414c-a1d7-eef5010469c4
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