KEZAD and Abundance Solar Panel launches $14.9mn solar plant
The proposed plant will have the latest innovation in solar panel technology promoting sustainable ecosystem and environmental responsibility
KEZAD Group and Abundance Solar Panels Industries announced the signing of a 50-year land lease agreement for the establishment of a solar panel plant in KEZAD Area A – Al Ma’mourah. The plant is to be developed with an investment of US $14.9mn.
The plant will manufacture solar panels and integrated photovoltaic modules for businesses across industries looking to move to energy-efficient ecosystems. Spanning over 27,000sqm, the plant represents KEZAD’s ambition of facilitating the development of new-energy environments. The agreement also reinforces AD Ports Group’s vision to drive the transition towards renewable energy and lead the UAE’s green agenda to achieve net-zero emissions, said a statement.
Mohamed Al Khadar Al Ahmed, CEO, Khalifa Economic Zones Abu Dhabi – KEZAD Group said, “We welcome the establishment of Abundance’s solar panel plant. The project aligns with our leadership’s vision for innovation in sustainable economic development as well as KEZAD Group’s goals of driving industrial development responsibly and sustainably in the emirate of Abu Dhabi.”
Sunil Madhok, Founder of Abundance Solar Panels Industries added, “Encouraged by the vision of UAE’s leadership to drive innovation and excellence in sustainable manufacturing, we are setting up fully automatic plant for solar panels manufacturing to offer our humble contribution to Abu Dhabi’s green future.”
Solar panels leverage solar energy to generate power and contribute towards building environmentally friendly energy systems. Fostering a hub of green technologies and sustainable business practices is at the core of the industrial strategy of KEZAD Group and the establishment of the solar panel plant is part of that grand design. It will not only enhance energy security, but it is also a big step forward in shaping the future of energy in Abu Dhabi.
