KEZAD Group, Abundance Solar Panels Sign 50-Year Lease For Solar Plant In Al Ma'mourah

Khalifa Economic Zones Abu Dhabi (KEZAD Group), the largest operator of economic zones in the UAE, has signed a 50-year land lease agreement with Abundance Solar Panels Industries to build a solar power plant in KEZAD Area A – Al Ma'mourah.

Solar panels use sunlight to produce energy and help create eco-friendly energy systems.

KEZAD Group's industrial strategy focuses on promoting green technologies and sustainable business practices. The new solar panel plant is a key part of this plan, boosting energy security and making significant progress in shaping Abu Dhabi's energy future, according to WAM.

With an investment of AED 55 million, the plant will produce solar panels and integrated photovoltaic modules, helping businesses across various industries transition to energy-efficient systems.

The agreement also aligns with AD Ports Group's strategy to promote renewable energy and advance the UAE's green goals to achieve net zero.

Covering more than 27,000 square meters, the plant marks another key milestone in KEZAD's efforts to support the development of new energy environments. The plant will use the latest solar panel technology and operate within a sustainable ecosystem, reflecting KEZAD Group's commitment to environmental responsibility.

Mohamed Al Khadar Al Ahmed, KEZAD Group CEO, welcomed the establishment of Abundance's solar panel plant, saying that the project is aligned with the company's vision for innovation in sustainable economic development.

"The project aligns with our leadership's vision for innovation in sustainable economic development as well as KEZAD Group's goals of driving industrial development responsibly and sustainably in the emirate of Abu Dhabi," he said.

Sunil Madhok, Founder of Abundance Solar Panels Industries, said, "Encouraged by the vision of UAE's leadership to drive innovation and excellence in sustainable manufacturing, we are setting up a fully automatic plant for solar panels manufacturing to offer our humble contribution to Abu Dhabi's green future."

Earlier this year, Sharif Al Olama, Under-Secretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure (MoEI), inaugurated the Solar and Clean Energy Conference as part of the World Future Energy Summit (WFES) in Abu Dhabi.

Also, Abu Dhabi Future Energy company Masdar announced last month that it had signed an agreement with Endesa to collaborate on 2.5 gigawatts (GW) of renewable energy projects in Spain. Masdar said it will invest AED 3.27 billion (€817 million) for a 49.99% stake.