IAN, a wholly-owned subsidiary of AG Holding specializing in renewable energy in Dubai, has established a strategic distribution agreement with China’s DMEGC Solar, listed on the Shenzhen Stock Exchange. This partnership marks DMEGC’s official expansion into the Gulf region.
Through this collaboration, both companies will enter the solar energy market in the Gulf Cooperation Council (GCC) countries, which is estimated to be worth about 24 billion AED (approximately 6.53 billion USD).
DMEGC Solar is recognized as a leading global manufacturer of high-efficiency solar panels, classified as a tier one photovoltaic module producer by Bloomberg and ranked among the top ten global suppliers by PVTECH.
The company offers comprehensive solar solutions for residential, commercial, and large-scale projects worldwide.
The agreement was signed in Dubai by Abdul Rahman Al-Baidhy, Chairman of AG Holding, representing IAN, and Leon Lu, General Manager of Global Sales at DMEGC Solar.
IAN will distribute DMEGC’s high-performance solar solutions across the UAE and neighboring Gulf markets from its Dubai headquarters.
This partnership enhances IAN’s growing portfolio in the renewable energy trading sector, as the company is already distributing several leading global brands in the region.
Abdul Rahman Al-Baidhy stated, “We are proud to have DMEGC Solar join our portfolio and represent them exclusively in the GCC. This partnership demonstrates our commitment to accelerating the adoption of clean energy and providing our clients with the latest technologies.”
Leon Lu commented, “Our collaboration with IAN marks an important milestone as we enter the Gulf market for the first time. IAN’s strong presence and expertise in the renewable energy sector in the region make them the ideal partner for our expansion.”
The UAE continues to invest heavily in solar energy projects as part of its clean energy strategy, including a budget allocation of 198 billion AED (54 billion USD) for its national energy strategy through 2030.
Key projects include the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, which aims for a production capacity of up to 5,000 megawatts by 2030, with an investment of 50 billion AED (13.6 billion USD). Additionally, Masdar, a leading renewable energy company in the UAE, is developing new solar projects linked to battery storage systems, including a 22 billion AED (6 billion USD) initiative aimed at increasing production capacity to 5 gigawatts.