- Both companies aim to develop a portfolio of 1000MW of solar energy
- Capton Energy plans to operate in Africa, the Middle East and Asia
Siemens and Desert Technologies are launching the Capton Energy joint venture aiming at developing a portfolio of 1000MW of solar energy and smart infrastructure.
Capton Energy, whose management has been entrusted to Umer Ahmad, will target projects with a capacity of between 20 and 100MW. The ultimate goal is to develop an installed capacity of 1,000MW in Africa, the Middle East and Asia. It remains to be seen whether the joint venture will invest in grid-connected power plants or installations for commercial and industrial (C&I) customers.
The venture will benefit from the expertise of its two shareholders in energy project development. This is the case of Siemens, which is active in Africa through its subsidiary Siemens Gamesa, specialising in wind power production. The German group has also embarked on developing the green hydrogen market in Egypt.
For its part, Desert Technologies is a holding company specialising in solar photovoltaic energy and smart infrastructure, focusing on sustainable manufacturing and investment. The company has already completed 42 solar power projects generating 200 MW in 22 countries, including North Africa, East and Southern Africa, and Central Africa.