Advanced Electronics Company (AEC) of Saudi Arabia and Power System have signed a partnership Agreement to develop new business opportunities in the field of Solar Energy, with the focus on Photovoltaic (PV) IP 65 Containers solutions. The purpose is to increase the local content of solar energy value chain that AEC currently specialized in, which is manufacturing PV inverter in partnership with a German Company called KACO new energy with a view to help the growing demand for energy in Saudi Arabia and the MENA region. AEC and Power System agreed that it is in the best interests of their companies to work together in exploring the development of Photovoltaic Solar Energy opportunities. Among a number of objectives and initiatives for consideration, is the potential to set up solar energy IP65 container manufacturing at AEC, for the Kingdom of Saudi Arabia and MENA region. The plan is to also establish a customer support and maintenance services center at AEC’s facility in Riyadh, Saudi Arabia. Mr. Khalid Al Khowaiter, President & CEO of AEC, commented: “This collaboration reflects the respected capabilities of AEC as a world-class electronics manufacturer, and I am sure that AEC and Power System will make a very successful team. Our joint initiative also aligns completely with the Kingdom renewable Energy strategy. In fact, current indications suggest that the Photovoltaic Solar Energy market in Saudi Arabia will have a value of 70 billion Saudi Riyals over the next twenty years. Ultimately, we are looking forward to the day that our nation becomes the acknowledged leader in solar energy.” Mr. Mirko Maffeis CEO of Power System, stated: “Power System provides a decades of experience, and has ensured its specialized technological leadership through adherence to the highest global technical standards. At the same time, the capabilities of AEC, and their expertise in knowledge and technology transfer, are renowned. Together, we will support Research and Development (R&D) in the Kingdom, as well as repairs and maintenance for customers. The local manufacture of solar containers will enable prompt local service and support. This will provide the benefits of a reduced level of items that require to be held in stock, as well as shorter lead times for supply.” Eng Adil Alomair, AEC Solar Energy Sector head; said: “AEC is always ready to handle new opportunities, and we are able to move to full production very swiftly. At the same time, we see this strategic teaming agreement as emphasizing AEC’s support for the local economy. Of course, all of our activities underscore our support for local employment, and this is an outstanding opportunity to create new jobs. We believe that our strong commitment to Saudization sets an example of success that the whole Kingdom can be proud of. Saudi Arabia is regarded as one of the top five locations in the world for potential Photovoltaic generation of electricity. The Kingdom receives some of the most intense sunlight exposure on the planet; therefore, sunlight could prove to be one of the nation’s greatest natural resources. Energy technologies are of vital impor'tance to Saudi Arabia, since energy is one of the most crucial drivers of the Kingdom’s development and economic growth. New and renewable energy technologies are promising methods of expanding Saudi Arabia’s energy production capacity in the future.” Advanced Electronics Company, established in 1988, is an Offset Program company and has become a recognized regional pioneer in the innovation and development of advanced electronics, serving the Military, Telecom and Industrial Sectors. As one of the Kingdom of Saudi Arabia’s premier state-of-the-art technology companies, AEC’s leadership includes expertise in the fields of modern electronics manufacturing, system integration, as well as repair and maintenance services. AEC has become a gateway to highly specialized services and opportunities, offering local access to world-class engineering, manufacturing, repair, maintenance and complete solution capabilities at its facilities. The company also provides the benefit of easy and rapid access to other regional markets, customers and distribution networks. Power System Srl established in 2002, it is an innovative and dynamic company that operates in the field of renewable energy in the electric field and able to provide professional consulting, design and construction. Since the plant civil and industrial use, the company has specialized in the production of electrical panels, MV / LV transformers, automation systems, intrusion detection, fire detection systems, systems of energy production from renewable sources (photovoltaic, wind, biomass, hydro). Qualified specialist personnel in MT and BT connections, realization of cabin MT, fixed and mobile substations and high-voltage assembly. For further information, contact AEC via: P.O. Box 90916, King Khalid International Airport, Industrial Estate, Riyadh 11623, Saudi Arabia Tel : + 966 1 220 1350 Fax : + 966 1 220 1355 Email: Info@aecl.com