It confirmed that it aims, within research and development efforts, to transfer knowledge and localize technology in the Kingdom
The CEO of the Saudi “Al-Fanar” company, Abdul Raouf Ezzi, said, in an interview with Al-Arabiya, that the company aims to expand smart networks and automation through acquisitions of companies that contribute to the transfer of knowledge and localization of technology in the Kingdom.
Ezzi added that Al-Fanar acquired a company in Spain that produces relays and remote control units to contribute to the automation of distribution networks, following carrying out acquisitions in the production of traditional energy such as transformers and stations.
He continued, “We are manufacturers of high, medium, and low voltage stations, transformers, cables, and materials used in electrical distribution and transmission,” according to Ezzi.
He pointed out that the company is expanding by acquiring important technologies related to renewable energies, as the Kingdom’s vision includes producing regarding 50% of electricity through renewable energies.
“We acquired a company specialized in producing one of the production inputs for the renewable energies industry via wind, and we also acquired another company that specializes in producing one of the important parts of the electricity transmission system produced from renewable sources and linking it to distribution networks.”
He pointed out that the production capacity of that company is regarding half a gigawatt per year, and we aim to expand within two years to reach 1 gigawatt.
