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Shoals Technologies Group, Inc. ("Shoals") (NASDAQ:SHLS), a global leader in electrical balance of system ("EBOS") solutions for the energy transition market, announced today that it has executed a non-binding memorandum of understanding (MoU) with UUES to work together in developing localized solar solutions for KSA and the region. As part of the MoU, Shoals and UUES will work to establish a business to localize solar EBOS manufacturing for the region.
The Kingdom of Saudi Arabia has planned to develop up to 130 GW of renewable power generation in the next six years, with solar power being a significant portion. In a market that lacks the trade skills required to execute on this ambitious target, Shoals believes its plug-and-play, prefabricated EBOS solutions will help to accelerate this development.
Posted In: SHLS
