Capton Energy is a joint venture (JV) between Siemens and Desert Technologies, a Saudi Arabian solar energy provider. Siemens Financial Services (SFS) and Desert Technologies will jointly own Capton. The JV will be based in Dubai, United Arab Emirates, and will invest in solar and smart infrastructure development in the Middle East, Africa, and Asia.
Capton Energy aims to support projects with a total capacity of more than 1 GW that would bring sustainable energy to underserved markets. The JV will invest in existing and greenfield solar power projects with energy generation capacity ranging from 20 MW to 100 MW, in particular. It will also give third-party investors the chance to participate in the energy revolution.
Desert Technologies is a Jeddah-based solar PV and smart infrastructure holding company, focused on manufacturing and sustainable investments, and has completed more than 40 solar projects in 22 countries. Meanwhile, Siemens Financial Services (SFS) – the financing arm of Siemens – provides business-to-business financial solutions.
REGlobal’s Views: New solar markets are emerging across the globe as nations deploy more and more clean energy to diversify their energy mix and reduce fossil fuel dependence. The Middle East, Africa and Asia have become attractive investment hotspots for solar in the past few years.
