ABU DHABI: Khalifa Economic Zones Abu Dhabi (KEZAD Group), the largest operator of integrated and purpose-built economic zones and UAE-based Abundance Solar Panels Industries have announced the signing of a 50-year land lease agreement for the establishment of a sophisticated solar power plant in KEZAD Area A – Al Ma’mourah.
To be developed with AED55 million in investment, the plant will manufacture solar panels and integrated photovoltaic modules for businesses across industries looking to move to energy-efficient ecosystems.
Spanning over 27,000 square metres, the plant represents another landmark moment in KEZAD’s history of facilitating the development of new-energy environments. The agreement also reinforces AD Ports Group’s strategic vision to drive the transition towards renewable energy and lead the UAE’s green agenda to achieve net zero.
The proposed plant will leverage the latest innovations in solar panel technology and operate within a sustainable ecosystem, promoting the environmental respons
ibility and stewardship that KEZAD Group stands for.
Mohamed Al Khadar Al Ahmed, CEO of 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, said, ‘Encouraged by the vision of UAE’s leadership to drive innovation and excellence in sustainable manufacturing, we are setting up a 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 t
hat grand design. It will not only enhance energy security but is also a big step forward in shaping the future of energy in Abu Dhabi.
Source: Emirates News Agency