Saudi’s OMAS acquires 50% share in Germany's Greencells Group

Saudi’s OMAS acquires 50% share in Germany's Greencells Group
Published: 8 August 2018 - 6:36 a.m.
By: Baset Asaba

Operation and Maintenance Alternative Solutions (OMAS), a wholly-owned subsidiary of Saudi Arabian conglomerate Zahid Group, has acquired a 50% share in Greencells Group, a German provider for solar photovoltaic (PV) power plants.

Andreas Hoffmann, CEO of Greencells, commented, “With a solid financial base, we can further strengthen our global footprint, serving more customers with our hallmarks of flexible, modular services, a high-quality product and lean operations to respond quickly in a competitive market.

In close collaboration with our new partner Zahid Group and OMAS, we will continue in our mission to make utility-scale solar the world’s cheapest and most scalable power source.”

“Solar energy is the ideal complement to our conventional power solutions. We have been actively seeking companies to partner with that would fulfil our bold ambitions in the renewables sector, which will be the key future growth driver for power globally,” said Majid T Zahid, group president (Energy) at Zahid Group.

“We look forward to jointly realising growth and success in this burgeoning industry,” he further added.

Greencells develops utility-scale solar projects globally. The company builds more than 1.3GW of capacity in more than 100 individual projects in 25 countries.

It has built a substantial presence expanding into the US, Asia Pacific and the Middle East including the supply of the mounting system and construction services for the world’s largest solar power plant, the 1.2GW Sweihan project in Abu Dhabi, which is currently under construction.

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