Siemens and Desert Technologies form JV for solar projects

• 2 years ago (2022-02-23)
• David Flin

Middle East 310 Solar 243

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Siemens and Saudi Arabian solar energy company Desert Technologies have launched Capton Energies as a JV. Capton Energies will be based in Dubai and jointly owned by Siemens Financial Services (SFS) and Desert Technologies.

Capton Energy will support existing and greenfield solar power projects with capacities of 20-100 MW, aiming to support a combined capacity of over 1 GW.

Steffen Grosse, Head of Equity Finance with SFS, said: “Solar power plays a critical part in the global energy transition. The launch of Capton sets the stage to help drive the expansion of more sustainable and flexible energy systems across the Middle East, Africa, and parts of Asia. We’re looking forward to jointly building this platform alongside Desert Technologies.”