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Siemens and Desert
Technologies launch solar
and smart
infrastructure development and investment platform, Capton Energy
Siemens and Desert Technologies launch joint venture Capton Energy to develop and invest in solar and smart infrastructure in the Middle East, Africa and Asia
Capton Energy aims to invest in projects of 1GW in aggregate and boost the supply of clean, stable and affordable power in under-served markets
Siemens and Desert Technologies have
launched a joint venture to develop and invest in solar and smart infrastructure in Africa,
the Middle East and Asia, as
announced today at Expo 2020 Dubai. The venture, Capton Energy – which aims to build
up a portfolio of investments in projects with an aggregate capacity of more
than 1 gigawatts (GW) – will support projects providing clean, reliable, and affordable energy in areas that need it most.
Siemens and Desert Technologies launch joint venture Capton Energy to develop and invest in solar and smart infrastructure in the Middle East, Africa and Asia
Capton Energy aims to invest in projects of 1GW in aggregate and boost the supply of clean, stable and affordable power in under-served markets
Siemens and Desert Technologies have
launched a joint venture to develop and invest in solar and smart infrastructure in Africa,
the Middle East and Asia, as
announced today at Expo 2020 Dubai. The venture, Capton Energy – which aims to build
up a portfolio of investments in projects with an aggregate capacity of more
than 1 gigawatts (GW) – will support projects providing clean, reliable, and affordable energy in areas that need it most.
Franco Atassi, CEO of Siemens Smart Infrastructure in
the Middle East; Nour Moussa, Managing Director of Desert
Technologies; Umer Ahmad, CEO of Capton Energy; Asim Hussain, Investment Director, Private Equity,
SFS; Khalid
Sharbatly, Group CIO of Desert Technologies; Alejandro Sanchez Hernandez, Investment Manager EMEA,
Asia and Australia, SFS
Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power. In fiscal 2021, which ended on September 30, 2021, the Siemens Group generated revenue of €62.3 billion and net income of €6.7 billion. As of September 30, 2021, the company had around 303,000 employees worldwide. Further information is available on the Internet
www.siemens.com.
Siemens Financial Services (SFS) – the financing arm of Siemens – provides business-to-business financial solutions.
A unique combination of financial expertise, risk management and industry know-how enable SFS to create tailored innovative financial solutions. With these, SFS facilitates growth, creates value, enhances competitiveness and helps customers access new technologies. SFS supports investments with equipment and technology financing and leasing, corporate lending, equity investments and project and structured financing. Trade and receivable financing solutions complete the SFS portfolio. With an international network, SFS is well adapted to country-specific legal requirements and able to provide financial solutions globally. Within Siemens, SFS is an expert adviser for financial risks. Siemens Financial Services has its global headquarters in Munich, Germany, and has around 2,900 employees worldwide.
www.siemens.com/finance.
Desert Technologies (dt) is a private, PV solar and smart infrastructure holding company, with a proven track record as a project developer, EPC and OandM contractor and PV solar panel and product manufacturer through its 110MW capacity factory in Jeddah, Kingdom of Saudi Arabia (KSA). dt provides PV solar energy products and solutions for commercial, industrial, NGOs and government clients. dt’s range of PV solar products, includes on and off-grid systems, battery storage systems, hybrid solutions, solar streetlights, solar home systems and kits, and EV infrastructure systems to cover the full spectrum of the solar market.
The Company has successfully established itself as an IPP player and has executed five utility scale projects to date with its strategic partners.
dt is active in the e-mobility sector as well, and has recently launched the first-ever off-grid fast charging station powered by the sun. Headquartered in KSA, the company operates globally.
