Saudi group buys stake in German solar company

06 August 2018
Conglomerate acquires 50 per cent of European solar developer

A subsidiary of Saudi congolomerate Zahid Group has acquired a 50 per cent stake in German solar firm Greencells.

Greencells said in a statement the investment would enable it to work on new strategic opportunities.

The German firm is providing the mounting system and services for construction of the 1.2GW photovoltaic (PV) solar plant at Sweihan in Abu Dhabi, the world’s largest solar plant.

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