Neosun Energy Opens New Regional Office to Drive Profitability for MENA Businesses with Solar Solutions

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Neosun Energy Opens New Regional Office to Drive Profitability for MENA Businesses with Solar Solutions

Neosun opens a regional office in Dubai with plans to open offices in KSA and Oman shortly - - Solar irradiance in UAE, KSA, and Oman ranges from 2,285 kWh/m2 to 7,004 kWh/m2 -

Neosun Energy, a prominent global developer of solar energy solutions, has announced the inauguration of its new regional office in Dubai, United Arab Emirates, marking its foray into the MENA market. The move underscores the company's commitment to expanding its global footprint, with plans underway to establish additional offices in Saudi Arabia and Oman in the near future.

According to the International Energy Agency, the Middle East and North Africa (MENA) region are poised to witness a substantial addition of 62GW of renewable energy capacity over the next five years, in alignment with commitments made at COP28. This surge in renewable energy deployment is anticipated to surpass previous growth rates, with solar capacity accounting for over 85% of the expansion.

Ilya Likhov, CEO of Neosun Energy, emphasized the MENA region's suitability for solar energy production due to its unique climatic conditions. He stated, "The UAE, Saudi Arabia, and Oman boast some of the highest solar exposure rates globally, with solar irradiance ranging from around 2,285 kWh/m2 to 7,004 kWh/m2."

Traditionally recognized for its abundant oil reserves, the MENA region is undergoing a transformative shift towards sustainable energy sources, with concerted efforts directed towards leveraging its vast natural resources for renewables.

Mr. Likhov highlighted the cost-effectiveness of solar energy generation, stating, "Solar energy is the most cost-effective form of energy generation today, enabling MENA countries to produce the cheapest electricity. This presents fertile ground for local entrepreneurs to leverage solar energy solutions to enhance profitability."

Neosun's solar installations offer adaptability for remote and off-grid locations, addressing challenges associated with limited or unreliable conventional electricity access. By harnessing solar energy, businesses in remote areas can initiate operations independently of the grid, unlocking new avenues for economic growth and development. The company's projects are currently operational in 16 countries.

Mr. Likhov affirmed Neosun Energy's commitment to engaging with potential partners in the MENA region, emphasizing the new office's role in fostering closer ties with local businesses and commercial enterprises. He stated, "The new Neosun Energy office will facilitate closer collaboration with local entities, offering affordable solar energy solutions, including solar plants, innovative energy storage systems, and portable Power Hubs. Embracing new solar energy technologies will enhance local businesses' cost efficiency and investment attractiveness."